The TPP should still bring enough benefits for the remaining countries to make it worthwhile to go through the trouble of enacting it.
Analysis shows there's less competition and more cross over in trade between Australia and the EU, making a trade deal more appealing.
Trade under Trump will mean more bilateral agreements, hard bargaining and ultimatums, a sharp departure from Obama's multilateral, win-win approach.
Much of the debate around trade deals misses some of the fundamentals of what they actually are and involve.
The agreement could be as good as dead, if, instead of pushing ahead without the US, its members decide to explore bilateral trade agreements with the country.
We could be witnessing the beginning of globalisation going in reverse.