Malaysia Hopes New US President Accepts TPP

By Siti Radziah Hamzah KUALA LUMPUR, March 22 (Bernama) -- Malaysia has expressed hope the new US President would accept the Trans-Pacific Partnership (TPP) agreement despite claims by US presidential candidates Donald Trump, Hillary Clinton and Bernie Sanders in their campaigns that the trade deal would harm the US economy. International Trade and Industry Minister Mustapa Mohamed said he believes the President-elect, when inaugurated in January 2017, would support the TPP. The US presidential poll is scheduled for Nov 2 this year. Mustapa said as the trade pact's driving force, the involvement of the US is crucial. "There is some uncertainty about what is happening in the US, and the candidates in the US presidential election are looking for support. "But we believe the US Congress will agree to the TPP," he told Bernama when met here Monday. The trade pact, whose sensitive issses have been criticised in Malaysia and other countries, was signed on Feb 4, 2016 in New Zealand by the trade ministers of the 12 TPP countries. Earlier, Mustapa said the TPP agreement may fail if Republican candidate Donald Trump becomes the next US President. He said Trump has been attacking the trade agreement in his campaigns, saying it would harm the US economy. "We do not want to make predictions on what will happen in the US, but if this were to happen (Trump becomes the next US President) and the US Congress not supporting the TPP, then the TPP will die," he said when winding up the debate on the motion of thanks to the Malaysia's King at the Dewan Rakyat on Monday. He said a provision in Chapter 30 of the TPP states the need for the participation of the US in the trade deal as the US is the largest economy in the world, accounting for about 20 per cent of global output. "During the TPPA negotiations, we felt that without the US it would be less meaningful and less effective," he said. Mustapa said Trump's intention to amend the TPP to include a clause on currency manipulation will not be realised as the TPP has already been signed. "There will be no amendment to what we signed last month," he said. --BERNAMA