MEXICO CITY: The sweeping trade deal for the Pacific region known as the Trans-Pacific Partnership (TPP) might still be implemented by making adjustments to its text even though the US has withdrawn, Mexico’s Economy Minister Ildefonso Guajardo said on Tuesday.
The TPP, which had been promoted by former US President Barack Obama and Japan as a way to counter China’s influence in a fast-growing region, was written in a way to prevent implementation without the US.
But if Japan leads the way, that clause could be stripped out without “any problem,” and Mexico and other members could evaluate the pros and cons of pushing forward with the TPP without the US, Guajardo said at an event.
“A TPP 11 instead of 12,” he said in reference to the remaining signatories to the deal since US President Donald Trump withdrew the US after taking office in January. “But we would have to see if nations such as Vietnam would put the same things on the table without the US,” he added.
Following the US’ departure, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam are still signed up to the TPP, though most must have put off ratifying it.
TPP signatories are expected to delve deeper into trade at the Asia-Pacific Economic Cooperation (APEC) Summit that Vietnam is hosting this year. Ministers start meetings in May and heads of state will gather in November.
Several alternatives to the TPP have been floated since Trump was elected in November, from inviting China to join the pact to doubling down on efforts to forge bilateral trade deals.
Mexico is looking to diversify its trading options to counter the threat of Trump ditching the North American Free Trade Agreement (NAFTA), which underpins the vast bulk of its commerce and binds it with the US and Canada.
Guajardo said that Trump’s recently signed “Buy American and Hire American” executive order that aims to boost purchases of American products in federal contracts might violate NAFTA by giving US industries a new advantage, but he said it was still not clear how it would play out.
Trump said Tuesday that he plans to make some “very big changes” to NAFTA or else get rid of it.
Guajardo also said that the exchange rate was moving toward a more sustainable level after what he described as an overreaction by the market.
Mexico says TPP might still be implemented without US
Mexico says TPP might still be implemented without US
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
