Pars Today – The actions of US President, Donald Trump, have resulted in the disruption of the established global order, and have caused the European Union to seek to expand and strengthen its relations with the countries bordering the Pacific Ocean (that is countries of the Trans-Pacific Partnership).
The Financial Times reported on Saturday: Senior European officials and diplomats see the return of US President Donald Trump to the White House as a catalyst for reviving a stalled plan to create a strategic partnership between the European Union and the Trans-Pacific Partnership. According to Pars Today, after Trump announced the tariffs, plans to forge stronger ties and partnerships between Brussels and the 12-nation trading bloc, including Canada, Japan and Mexico, are growing faster than ever before.
European Commission President Ursula von der Leyen said in an interview with the Financial Times that both sides want to work together on rules to ensure fair trade practices around the world for the benefit of humanity.
She stressed that both blocs are examining what needs to be improved in the current turmoil at the World Trade Organization and how they can work closer together to achieve this.
The Trans-Pacific Partnership (TPP) was established in 2018 and includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United Kingdom and Vietnam. The European Union currently has bilateral agreements with nine of the pact’s members.
Canada’s foreign affairs ministry also said the country was committed to strengthening its trade ties with Europe and the Indo-Pacific region.
The prime ministers of New Zealand and Singapore have also endorsed the idea of deepening cooperation between the two blocs in recent weeks.
MD/ME
Trump’s tariff war: Will Europe forge stronger ties with Trans-Pacific Partnership
- Author: The Iran Times Team
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