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Asia-Pacific Allies Sign Huge Trade Deal With China While U.S. Sits It out

Read MoreVietnamese Prime Minister Nguyen Xuan Phuc (left) and Trade Minister Tran Tuan Anh applaud next to a screen showing Japanese Prime Minister Yoshihide Suga and Trade Minister Hiroshi Kajiyama holding up signed RCEP agreement, in Hanoi, Vietnam. China and 14 other countries have agreed to set up the trading bloc.

What it means for the U.S. to be on the sidelines of another major trade agreement, the Regional Comprehensive Economic Partnership, which 15 countries agreed to Sunday.

(Image credit: Hau Dinh/AP)

What it means for the U.S. to be on the sidelines of another major trade agreement, the Regional Comprehensive Economic Partnership, which 15 countries agreed to Sunday.