News > US on sidelines as China and other Asia-Pacific nations launch trade pact

US on sidelines as China and other Asia-Pacific nations launch trade pact

LiveMint | 02/01/2022 09:08 PM | Click to read full article

China joins U.S. allies including Japan and Australia in a new Asia-Pacific trade agreement that launches Saturday—with the US watching from the sidelines.

The new Regional Comprehensive Economic Partnership, or RCEP, will eventually eliminate more than 90% of tariffs on commerce among its 15 member countries, in what economists say will be a boon to trade in the region.