Editors at National Review endorse the prospect of President Trump returning the United States to the Trans-Pacific Partnership.

The simplest reason why is that it would boost the American economy. The signatories of the agreement — including Canada, Australia, New Zealand, Japan, Singapore, Malaysia, and Chile — account for roughly 40 percent of American trade. With ratification fast approaching, and the U.S. on the outside looking in, American exporters trying to sell goods in TPP-member countries soon will find themselves at a disadvantage. Rejoining would help keep American companies competitive and boost foreign direct investment in the U.S.

The TPP has its opponents, especially among self-described economic nationalists. We share the belief that trade agreements ought to be pursued with the national interest in mind. But opponents of the TPP tend to ignore what it actually entails, perhaps because the TPP is in the national interest. Increased trade and investment are good things, and the signatories are generally not the sort of countries to which American manufacturing jobs tend to flee. In any case, it is a question not of whether the TPP would help the overall economy but of how much: The per-year boost to GDP would range from $57 billion to $78 billion.

There are compelling diplomatic reasons to rejoin the agreement as well. Japan’s Shinzo Abe went out on a political limb to shepherd the agreement through, only for the U.S. to pull out. Trump’s attempt to forge a bilateral trade agreement with Japan has, to this point, failed. The two are set to meet this week, and a signal from Trump that he is serious about rejoining the TPP could help paper over any divisions between the U.S. and Japan at a time when it is obviously crucial to maintain strong diplomatic relations with our allies in Asia.