Pacific Trade Pact In Limbo As Talks End Without A Deal
By
Jim Zarroli |
NPR
Friday, July 31, 2015
In a setback for the Obama administration, talks aimed at setting up a major free-trade zone among 12 Pacific Rim countries — the so-called Trans-Pacific Partnership — have ended without success.
Although U.S. Trade Representative Michael Froman said "significant progress" had been made at this week's talks in Maui, Hawaii, and officials promised to reconvene at some future date, big differences remain among the participating countries.
They involve such issues as how long the copyright for biologic drugs should last (a big concern for the U.S. pharmaceutical industry), New Zealand's access to foreign dairy markets, and how to define the country of origin for auto manufacturers.
Because no agreement has been reached, it's unlikely that Congress will be able to vote on the trade pact this year. That will push a vote into 2016 — when the presidential election will be in full swing, and when President Obama will be less than a year from leaving office.
Copyright 2024 NPR. To see more, visit https://www.npr.org.
View this story on npr.org
Follow us for more stories like this
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.
Donate Today