U.S. and Japan make progress on trade deal

Ahead of Japanese Prime Minister Shinzo Abe’s historic visit to Washington, the U.S. and Japan are close to reaching agreement over the long-delayed Trans-Pacific Partnership (TPP), a trade deal that would encompass 40 percent of the global economy
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VALUE OF U.S. TRADE WITH TPP COUNTRIES

2014 ($ billions)

Shinzo Abe

JAPAN 200.9

VIETNAM 36.3

MALAYSIA 43.6

BRUNEI 0.6

AUSTRALIA 37.3

SINGAPORE 47.0

NEW ZEALAND 8.2

CANADA 658.2

UNITED STATES

MEXICO 534.5

PERU 16.2

CHILE 26.1
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Imports Exports Trade balance ($ billions)

Canada -33.9

Mexico -53.8

Japan -67.0

Singapore 14.1

Malaysia -17.3

Australia 16.0

Vietnam -24.9

Chile 7.1

Peru 4.0

N. Zealand 0.3

Brunei 0.5
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GDP OF 12 TPP COUNTRIES 2013 ($bn)

U.S. 16,800

Japan 4,920 

Chile 277

Peru 202

N. Zealand 186

Vietnam 171

Brunei 16

Canada 1,827

Australia 1,560

Mexico 1,261

Malaysia 313

Singapore 299
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Sources: Congressional Research Service, World Bank

Picture: Getty Images

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