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| Australia signals support for Chinese-led trade deals to replace TPP Australia signals support for Chinese-led trade deals to replace TPP | |
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| The Australian government has effectively cut its losses in the Trans-Pacific Partnership, signalling support for Chinese-led trade deals before a meeting this weekend of the Asia-Pacific Economic Cooperation group in Peru. | The Australian government has effectively cut its losses in the Trans-Pacific Partnership, signalling support for Chinese-led trade deals before a meeting this weekend of the Asia-Pacific Economic Cooperation group in Peru. |
| In an opinion piece published by the Australian Financial Review on Thursday and in an interview with the Financial Times before Apec, the trade minister, Steve Ciobo, said Australia would support a proposal being advanced by the Chinese government, the Free Trade Area of the Asia-Pacific. | In an opinion piece published by the Australian Financial Review on Thursday and in an interview with the Financial Times before Apec, the trade minister, Steve Ciobo, said Australia would support a proposal being advanced by the Chinese government, the Free Trade Area of the Asia-Pacific. |
| “With the future of the TPP looking grim, my ministerial counterparts and I will work to conclude a study on the Free Trade Area of the Asia-Pacific, which sets out agreed actions towards a future free trade zone,” Ciobo said in the piece published on Thursday. | “With the future of the TPP looking grim, my ministerial counterparts and I will work to conclude a study on the Free Trade Area of the Asia-Pacific, which sets out agreed actions towards a future free trade zone,” Ciobo said in the piece published on Thursday. |
| China was excluded from the TPP, which was the key economic component of the Obama administration’s pivot to Asia. It has pursued two rival trade pacts, the Apec-wide Free Trade Area of the Asia-Pacific and a separate trade deal called the Regional Comprehensive Economic Partnership, which includes 16 countries but not the US. | China was excluded from the TPP, which was the key economic component of the Obama administration’s pivot to Asia. It has pursued two rival trade pacts, the Apec-wide Free Trade Area of the Asia-Pacific and a separate trade deal called the Regional Comprehensive Economic Partnership, which includes 16 countries but not the US. |
| Australia has been a vocal public supporter of the TPP, arguing that the agreement would underpin continuing US engagement with the Asia-Pacific region and lobbying congressional leaders to support its passage. | Australia has been a vocal public supporter of the TPP, arguing that the agreement would underpin continuing US engagement with the Asia-Pacific region and lobbying congressional leaders to support its passage. |
| But the Turnbull government has muted its public support for the trade pact since Donald Trump won the US presidential election. The president-elect campaigned vociferously against the TPP throughout the bitterly contested presidential contest. | But the Turnbull government has muted its public support for the trade pact since Donald Trump won the US presidential election. The president-elect campaigned vociferously against the TPP throughout the bitterly contested presidential contest. |
| Since Trump’s victory, Chinese state media has declared the US should come on board its trade proposals. | Since Trump’s victory, Chinese state media has declared the US should come on board its trade proposals. |
| “The incoming administration should realise that the more open, inclusive Regional Comprehensive Economic Partnership will turn out to be a far more efficient vehicle for advancing US interests,” an editorial in China Daily said this week. “Washington may want to take advantage of the nascent, evolving platform and become involved from the rule-making stage.” | “The incoming administration should realise that the more open, inclusive Regional Comprehensive Economic Partnership will turn out to be a far more efficient vehicle for advancing US interests,” an editorial in China Daily said this week. “Washington may want to take advantage of the nascent, evolving platform and become involved from the rule-making stage.” |
| Japan has also signalled a reorientation towards the Chinese deals in the lead-up to Apec. | Japan has also signalled a reorientation towards the Chinese deals in the lead-up to Apec. |
| The impact of a Trump presidency will loom large in the sidelines conversation at Apec, even through the president-elect won’t be present. Barack Obama will attend the Peru summit in his final international engagement before handing over to the Trump administration. | The impact of a Trump presidency will loom large in the sidelines conversation at Apec, even through the president-elect won’t be present. Barack Obama will attend the Peru summit in his final international engagement before handing over to the Trump administration. |
| Australia’s prime minister, Malcolm Turnbull, told reporters on Thursday that Trump would be a significant topic of conversation among regional leaders. “Everyone will be talking about it, no doubt about that,” Turnbull said. | Australia’s prime minister, Malcolm Turnbull, told reporters on Thursday that Trump would be a significant topic of conversation among regional leaders. “Everyone will be talking about it, no doubt about that,” Turnbull said. |
| “It was the election of a new president in the United States, a momentous decision for the United States and for the whole world so of course it will be a very keen topic of conversation.” | “It was the election of a new president in the United States, a momentous decision for the United States and for the whole world so of course it will be a very keen topic of conversation.” |
| Turnbull continued on Thursday to dead bat questions about the fate of Australia’s new refugee resettlement deal with the US. He is expected to discuss the deal with Obama this weekend. | Turnbull continued on Thursday to dead bat questions about the fate of Australia’s new refugee resettlement deal with the US. He is expected to discuss the deal with Obama this weekend. |
| It is unclear whether the Trump administration will honour the agreement. The Republican adviser Karl Rove has argued it could easily be dumped after the inauguration on 20 January. | It is unclear whether the Trump administration will honour the agreement. The Republican adviser Karl Rove has argued it could easily be dumped after the inauguration on 20 January. |
| Turnbull has responded to all questions about the viability of the resettlement agreement over the medium and long term by saying the Australian government deals with one administration at a time. | Turnbull has responded to all questions about the viability of the resettlement agreement over the medium and long term by saying the Australian government deals with one administration at a time. |