I don't want to speculate about what will happen and I don't have a crystal ball, but in its current form the TPP needs both the U.S. and Japan to go ahead. That said, who knows? The 11 TPP countries could negotiate something on the side on their own, and maybe give two, three, or four years to the U.S. to join when they are ready to do so.
I think we want to have Canada send strong signals to some of its key trading partners, and Japan, in the TPP, is one of them. Japan is our third export market and a high-value market. The EU is negotiating free trade agreements with Japan, Vietnam, and Malaysia. Some of the other TPP members—Australia is one of them—already have a bilateral agreement with Japan. The more we wait, the more we fall behind.