Negotiators agree on Japan placing tariffs on US agricultural products up to levels that apply to members of the Trans-Pacific Partnership pact, according to reports.
The two sides enjoy close ties but US President Donald Trump has frequently claimed that Tokyo has an unfair advantage in bilateral trade.
The Trans-Pacific Partnership was tossed into disarray in early 2017 after President Donald Trump pulled the US from the pact, the opening salvo in his winner-takes-all, 'America first' trade policy.
The original 12-member deal was thrown into limbo early last year when President Donald Trump withdrew from the agreement to prioritise protecting US jobs.
The Nobel Prize-winning economist says these include inheritance tax, capital gains tax and property tax for large holding properties.
Malaysian Foreign Minister Saifuddin Abdullah told reporters that the prospect of a trade war is a "real threat" to Asian countries.
Third World Network berkata keperluan CPTPP boleh dipertikaikan kerana Malaysia sudah mempunyai perjanjian 2 hala dengan beberapa negara terlibat.
Majlis Tindakan Ekonomi Melayu berkata perjanjian itu memberikan kelebihan kepada syarikat korporat gergasi asing berbanding syarikat tempatan.
Dr Mahathir berkata perjanjian perdagangan itu, yang turut merangkumi Jepun dan Kanada perlu mengambil kira tahap pembangunan negara terlibat.
But he stops short of saying Malaysia would leave the trade pact now called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Ministers from Japan, Australia and Malaysia had welcomed President Donald Trump directing officials to explore returning to the TPP, but they also cautioned against making any significant changes.
President Donald Trump said Thursday the US could re-enter the Trans-Pacific Partnership if it could get a "better" deal.
President Donald Trump has directed senior aides to explore re-joining the 11-nation Trans-Pacific Partnership if a "better deal" can be reached, the White House said Thursday.
Moody's says Malaysia will benefit from access to new markets.
Minister Mustapa Mohamed says for Trans-Pacific Partnerhip, Malaysia will amend relevant laws in order to complete the ratification process.
The CPTPP will span a market of nearly 500 million people, making it one of the world's largest trade agreements.
Protest organisers say that the TPP 'is an international economic agreement that, despite criticism from the public for lack of information and public debate.
The 11 nations to go on with the Trans-Pacific Partnership trade agreement, minus the US which withdrew shortly after President Donald Trump took office.
Mustapa Mohamed berkata, rundingan semula dengan AS akan mengambil masa lama dan 11 negara anggota perlu berkompromi dengan negara itu.
Wendy Cutler, who was a TPP negotiator, says other countries are filling the vacuum left by the US.
Klang MP Charles Santiago says trade ministry must undertake new cost-benefit analysis as the US is no longer part of the agreement.
Persatuan Pengguna Pulau Pinang berkata CPTPP lebih buruk kerana langsung tiada faedah menjual lebih banyak eksport ke AS.
Perjanjian perdagangan bebas yang dinamakan TPP 11 akan berlangsung tanpa penyertaan Amerika Syarikat di ibu kota Chile, Santiago pada 8 Mac ini.
Trans-Pacific Partnership offered very little gain to Malaysia, more so now with access to US market off the table.