US will join TPP in the future: Cormann

Finance Minister Mathias Cormann cannot imagine that a successful Trans-Pacific Partnership will not involve the United States at some stage in the future.

One of US President Donald Trump's first actions was to pull out of the 12-strong trade agreement, an agreement Senator Cormann says will liberalise trade across a substantial part of the global economy and where most of the economic growth will be generated for years, if not decades to come.

"Our belief is that over time, whether this administration or a future administration, the United States will want to have a piece of the action," Senator Cormann told Sky News on Sunday.