The Trans-Pacific Partnership (TPP), also known as the Trans-Pacific Partnership Agreement, was a proposed trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States, signed on February 4, 2016. After the withdrawal of the US signature of the TPP by newly elected US President Donald Trump in January 2017, the agreement could not be ratified as requested and did not enter into force. The other countries negotiated a new trade agreement called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which contains most of the provisions of the TPP and entered into force on December 30, 2018. According to the U.S. International Trade Commission, the TPP will have a positive impact on the United States. The economy as a whole, with unskilled labour reaping 25% of profits, skilled workers 41% and entrepreneurs 34%.  U.S. officials say they will push China to limit its use of subsidies in the next round of negotiations. The United States is also cooperating with the European Union and Japan to tackle Chinese subsidies in the World Trade Organization.
We will do another one next week. But it`s the biggest deal anyone has ever seen. And this can lead to an unprecedented deal, because China has 1.5 billion people, and finally, in the second phase, we will open China to all your companies. So I hope you can handle that. And since negotiations on this subject are doomed to failure, Trump will probably soon resort to tariffs again. A friend of mine, Steve Schwarzman, is here. Steve, I know you`re not interested in this deal at all. (Applause) I`m surprised you`re not really sitting here on the rock of the stage – but Steve did a great job, a very good relationship with China and a very good relationship with us. To this end, China has agreed to publicly publicize, among other things, its foreign exchange reserves and quarterly imports of goods and services. However, much of what China approves is in line with the commitments it has already made through the Group of 20 and its commitments to the International Monetary Fund. . .