No real future for a TPP without US

With the United States having withdrawn from the Trans-Pacific Partnership agreement, trade officials from the remaining members gathered in Canada on Tuesday and Wednesday seeking ways to keep it alive. But can they really make any breakthrough?

The US accounted for about 24 percent of the world's total GDP last year according to the World Bank. Thus, a TPP without the US is simply not feasible. With the US having a central role, the economies of the member countries were complementary to it. After the US' withdrawal from the deal, the total share of the remaining TPP members has decreased to 13 percent of the world's total GDP and the competition among them has increased while the complementary nature of their economies has decreased.

For instance, Japan and Australia both want to export their agriculture products. Australia and Canada both want to increase their exports of minerals. Thus, the real economic value of any TPP without the US is limited. Considering the business community is more sensitive to the economic benefits than its political purposes, the strategic advantages calculated by politicians may not be enough to win the support of the business communities in the various countries.