On 25 October 2018, New Zealand formally ratified the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) bringing the number of ratifications to four. Canada cleared its last legislative hurdle when the Senate approved it on October 25 and Royal Assent was given the same day. Canada became the fifth to ratify when it notified New Zealand of its ratification on October 29, 2018. The Australian House and Senate also approved it and sent it to the Governor General who has given Royal Assent. Australia brought the number of ratifications to six by notifying New Zealand of its ratification on October 31, 2018. The CPTPP will enter into force 60 days after six countries ratify the deal. Ratification occurs after a notice of ratification has been filed with the CPTPP Depositary country – New Zealand, so the CPTPP will enter into force on 30 December 2018 for those signatories who have ratified it. Japan, Mexico and Singapore were the first to ratify the CPTPP. Brunei, Chile, Malaysia, Peru and Vietnam are the remaining signatories. Vietnam is expected to ratify it in November. The US had pushed for the original TPP under President Obama’s administration, but President Trump withdrew from the agreement in January 2017, shortly after being sworn-in.
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- Taiwan and the US have concluded negotiations on five issues of the Taiwan-US 21st Century Trade Initiative
- Japan amends the Customs Tariff Act, etc.
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- EU: Proposals envisioning most ambitious and comprehensive reform of EU Customs Union since 1968 published
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