Pacific Trade Pact Takes Off With Tariffs Cut in 6 Nations

Pacific Trade Pact Takes Off With Tariffs Cut in 6 Nations
Hon David Parker speaks at a press conference with Prime Minister Jacinda Adern on Aug. 6, 2018 in Wellington, New Zealand.Mark Tantrum/Getty Images
Reuters
Updated:

SYDNEY—A landmark 11-country trade deal, a revamped version of the Trans-Pacific Partnership (TPP), came into force on Dec. 30 with New Zealand’s trade minister hailing the opportunities it presented for exporters.

The deal, which will slash tariffs across much of the Asia-Pacific region, does not include the United States after Washington pulled out of the TPP negotiations in 2017.