On March 27, 2018, a proposal ("Proposal") to approve the execution of the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership ("TPP 11") and a bill ("Bill") to partially amend the Act on Arrangement of Relevant Acts Incidental to Conclusion of the Trans-Pacific Partnership ("TPP Relevant Arrangement Act") were submitted to the Diet. After the United States withdrew from the Trans-Pacific Partnership among 12 countries ("TPP 12") in January 2017, the remaining 11 countries have continued negotiations and signed on to the TPP 11 (an agreement to amend the TPP 12) on March 8, 2018. The Proposal is to complete the Japanese domestic legal procedures necessary to ratify the TPP 11, and the Bill is to change the enforcement date of the TPP Relevant Amendment Act to the enforcement date of the TPP 11 (60 days after the date on which at least six signatories complete the necessary legal procedures). Mexico has already completed its domestic legal procedure necessary to ratify the TPP 11. Thus, enforcement of the TPP 11 and relevant domestic acts to implement the TPP 11 is becoming likely. Businesses should review the contents of the TPP 11 and the TPP Relevant Arrangement Act and analyze their impact on the businesses' operations.
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