Chile and the TPP (Transpacific Partnership)
Chilean Foreign Policy reaffirmed its relentless path of FTAs and a commitment to an open economy under WTO precepts. Chilean Exterior Minister Mr. Heraldo Muñoz and the other 11 member countries’ representatives signed the TPP in Auckland, New Zealand, on February 3rd, 2016. Chilean Foreign Minister Muñoz announced the signature of the TPP as a milestone in the creation of jobs and growth. This mega-treaty had initially involved 12 economies: countries in the Asia-Pacific rim area, like Japan and the USA. However, the USA withdrew from the treaty when President Donald Trump became the new POTUS in January 2017. The mega treaty, TPP, once pioneered by the Obama administration as a pivot to China, is a turning point in global commercial blocs. This mega-treaty accounts for 40% of global GDP and 800 million consumers worldwide.