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US Rules out Major Trans-Pacific Trade Announcement at APEC

Posted November 10, 2014

Under Economic Issues, International Trade Issues


There will be no “major announcement” on a Washington-backed Asia-Pacific free trade deal during a meeting of leaders from the region in Beijing this week, US Trade Representative Michael Froman said on Sunday.

Few expected that a deal on the ambitious 12-country Trans-Pacific Partnership (TPP) could be reached this year, largely because of a deadlock between the pact’s two biggest economies, the United States and Japan, over how widely Japan will open its doors to farm exports.

Business leaders, however, have been looking for indications of momentum on TPP talks at the Asia-Pacific Economic Cooperation (APEC) forum, which runs through Tuesday. Read more here.