Deputy Prime Minister Taro Aso has affirmed Japan’s commitment to completing the implementation of the Trans-Pacific Partnership trade deal without the U.S., and appears to have Australia’s support. The trade area would account for just 11% of Japan’s exports, and growth in the past quarter of 19% already outstrips the 9% seen globally. While progress on TPP provides a hedge against the China-led RCEP deal not working out, it may unnecessarily complicate the process. RCEP negotiators don’t want to “TPP-enize” the deal, and the larger trade area accounts for 44% of Japan’s exports.

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