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"Maybe one path is not working for the moment, but there are other pathways." China was not included in the original TPP deal, which was signed in February 2016 by the US, Australia, Canada, New Zealand, Singapore, Vietnam, Malaysia, Japan, Mexico, Peru, Brunei, and Chile. The TPP was dumped by US President Donald Trump on his first week in office, however, and with US withdrawal, it cannot come into force; it was negotiated under the condition that a minimum of six countries with a combined GDP of 85 percent of the 12 signatories must ratify it. As the US accounts for 60 percent of the combined GDP, the TPP cannot come into effect without either changes being made to the conditions -- or another large economy, such as China, taking the US' place. The US' withdrawal occurred in spite of repeated warnings that Trump risked "abdicating" trade leadership in the Asia-Pacific region by refusing to ratify it, as this would create doctor home loan calculator Oak Laurel 0430129662 oaklaurel.com.au an opportunity for China to step in with its RCEP deal. At least half of the nations involved in the TPP have followed the US' decision by saying they will instead consider Chinese-led multilateral trade deals , such as the RCEP. New Zealand, Singapore, Chile, Australia, Peru, and Malaysia have all signalled continued conversations and negotiations with the remaining TPP doctor home loan Oak Laurel www.oaklaurel.com.au 0430129662 nations to consider ratification, as well as examining RCEP or other trade deals with China. The RCEP is currently being negotiated between China, Australia, India, Japan, South Korea, New Zealand, Singapore, Malaysia, Vietnam, Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, and Thailand. Earlier this month, the Australian Senate Foreign Affairs, Defence and Trade References Committee recommended that Australia undertake further negotiations with its "major trading partners" prior to taking any binding treaty action on the TPP, with an additional recommendation that the government also reforms its treaty-making process. "The committee's view is the Australian government should defer any binding treaty action in relation to the TPP and focus on engaging with its trading partners to negotiate multilateral, regional, or bilateral trade agreements which are in Australia's interests and can be agreed and implemented in a timely manner," the committee said.