= Regional Comprehensive Economic Partnership = '''Regional Comprehensive Economic Partnership''' ('''RCEP''') is an international trade treaty. <> ---- == Composition == The founding signatories are: * [[Australia/ScottMorrison|Australia]] * [[Brunei/Monarchs|Brunei]] * [[Cambodia/HunSen|Cambodia]] * [[China/XiJinping|China]] * [[Indonesia/JokoWidodo|Indonesia]] * [[Japan/YoshihideSuga|Japan]] * [[Laos/BounnhangVorachit|Laos]] * [[Malaysia/MuhyiddinYassin|Malaysia]] * [[Myanmar/AungSanSuuKyi|Myanmar]] * [[NewZealand/JacindaArdern|New Zealand]] * [[Philippines/RodrigoDuterte|Philippines]] * [[Singapore/LeeHsienLoong|Singapore]] * [[SouthKorea/MoonJaein|South Korea]] * [[Thailand/PrayutChanocha|Thailand]] * [[Vietnam/NguyenPhuTrọng|Vietnam]] The [[Myanmar/Democratization#State_Administration_Council|2021 coup]] has put the validity of Myanmar's ratification into question. The official stance of several members, importantly China among them, is that Myanmar is a full member. [[Bangladesh]], [[China/HongKong|Hong Kong]], [[SriLanka|Sri Lanka]], and [[Chile]] have applied for membership. ---- == History == The treaty is largely an extension of the [[WorldHistory/AssociationOfSoutheastAsianNations|ASEAN]] international organization. It includes several non-members; importantly, the negotiations established common ground between [[China/XiJinping|Jinping]], [[Japan/ShinzoAbe|Abe]], and [[SouthKorea/MoonJaein|Moon]] during the [[UnitedStates/DonaldTrump|first Trump]] administration. The treaty primarily lowers non-tax trade barriers, e.g. standardizing nation of origin regulations. It also prohibits certain types of tariffs. In the context of [[UnitedStates/EconomicPolicy/TrumpTariffs|Trump's re-election]], the trade ministers of China, [[SouthKorea/ChoiSangmok|South Korea]], and [[Japan/ShigeruIshiba|Japan]] [[https://www.yahoo.com/news/south-korea-china-japan-agree-034840834.html|met for the first time in 5 years and discussed strengthening the RCEP]]. ---- CategoryRicottone