Trans-Pacific Partnership negotiations stall

The 12 Pacific Rim countries working in Hawaii to establish the biggest free trade deal in history failed to reach an agreement Friday, the end of their latest round of talks. The Trans-Pacific Partnership would cover 40 percent of the global economy.

Negotiators say significant progress was made, according to CNN, but there's no date set yet for the next round of talks. An agreement would lower trade barriers between the nations and encourage economic growth.

President Obama had all but ensured a deal would cruise through Congress, but with the 2016 presidential election on the horizon, if a deal is reached down the road, its fate would be less clear.

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