TPP: controversial trans-Pacific trade deal finally reached

US and Japan among countries to agree largest trade pact in two decades

Japan Prime-Minister Shinzo Abe
(Image credit: Kazuhiro Nogi/Getty Images)

The US, Japan and ten other countries have reached a landmark deal touted as the largest trade pact in two decades.

The Trans-Pacific Partnership (TPP) will cover 40 per cent of the global economy, creating a new Pacific economic bloc with reduced trade barriers that "will set the rules for the 21st century for trade", said Barack Obama.

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