Asian economies discuss trade pact amid rising protectionism
TOKYO (AP) — Japanese Prime Minister Shinzo Abe on Sunday called for an early conclusion of a regional trade pact that ensures free and rules-based commerce in the face of an increasingly protectionist United States under President Donald Trump.
At a meeting of the Regional Comprehensive Economic Partnership, or RCEP, which is co-chaired by Japan and Singapore, trade ministers and officials from 16 Asian countries agreed to speed up negotiations on outstanding issues and reach a basic agreement by the end of the year.
Japan seeks to take leadership in shaping the pact as an alternative to a Pacific Rim free-trade grouping that Trump abandoned early this year.