Home / News / Report: US-Pacific Trade Deal Inches Closer

Report: US-Pacific Trade Deal Inches Closer

tradeThe U.S. and 11 Asian countries were close to finalizing the proposed Trade-Pacific Partnership trade accord during a negotiation late Sunday afternoon, Politico reported Sunday.

Doug Palmer writes the TPP would serve as a key component of the Obama administration’s Asia-Pacific foreign policy rebalancing initiative and establish e-commerce, labor and environmental rules among the participating nations.

The latest round of talks focused on drug, automobile and dairy market provisions, the report said.

U.S. and Australian trade officials reached a compromise on TPP language about the patent protection for biologic drugs, with negotiators from the two countries agreeing to a five-year biologics exclusivity period, the publication reports.

The White House believes the initiative’s economic and geostrategic goals will encourage Congress to back the proposed 12-nation trade treaty.

Check Also

Andrew Charles: Navy Should Determine Where AI Fits Into System

Capt. Andrew Charles, director of tactical exploitation of national capabilities for the U.S. Navy, has said the service should determine where artificial intelligence technologies apply in its operations, and where they don't, Federal News Network reported Friday.

Leave a Reply

Your email address will not be published. Required fields are marked *