Friday, July 31, 2015

BREAKING: Top trade officials from the 12 Trans-Pacific Partnership countries fell short of reaching agreement

Top trade officials from the 12 Trans-Pacific Partnership countries fell short of reaching agreement on the biggest trade deal in history Friday, potentially jeopardizing one of President Barack Obama's top goals for his second term.

Despite progress on several issues, the talks stalled on several longstanding disagreements, including Canadian dairy market access, Japanese barriers to auto and rice imports, and U.S. demands for strong intellectual property protections for a new generation of pharmaceuticals.

The countries in the deal, which also include Mexico, Australia, New Zealand, Malaysia and Vietnam, account for 40 percent of global economic output.

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