U.S., Asia-Pacific allies near final Trans-Pacific Partnership deal

A final draft of the TPP could be very near
(Image credit: SAUL LOEB/AFP/Getty Images)

Trade negotiators from the U.S. and 11 Asia-Pacific countries said late Sunday that they are optimistic they'll be able to announce a final Trans-Pacific Partnership trade deal on Monday, after almost eight years of negotiations. The trade officials, meeting in Atlanta, had suggested earlier that a deal could be announced on Sunday, but ongoing haggling over drug patents, dairy exports, and other issues held up a final agreement. If finalized and ratified by the signatory countries, the landmark TPP would open up trade and set commerce ground rules for 12 countries representing about 40 percent of the global economy.

Several breakthroughs had spurred hopes that this five-day meeting would seal the TPP deal, including a compromise between the U.S. and Australia over the exclusivity period for brand-name pharmaceutical firms to sell advanced biologic drugs — Peru and Chile are still concerned — but New Zealand is still pressing for greater access to foreign markets for its dairy products. Japan, the U.S., Canada, and Mexico reached tentative agreement on a deal governing the manufacture of automobile and auto parts.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.