Money TPP trade deal talks reach critical point at Asia-Pacific summit

16:02  09 november  2017
16:02  09 november  2017 Source:   Reuters

Trudeau to meet Myanmar leader Suu Kyi

  Trudeau to meet Myanmar leader Suu Kyi Trudeau to meet Myanmar leader Suu KyiSuu Kyi is an honorary Canadian citizen and Nobel laureate who has faced widespread international criticism for not speaking out against the violence against her country's Muslim minority.

Talks on pushing ahead the Trans Pacific Partnership ( TPP ) trade deal without the United States reached a critical point on Thursday as ministers from the 11 countries discussed a proposed agreement in principle.

DANANG, Vietnam (Reuters) - Talks on pushing ahead the Trans Pacific Partnership ( TPP ) trade deal without the United States reached a critical point on Thursday as ministers from the 11 countries discussed a proposed agreement in principle.

a group of people in a room: Trade ministers and delegates from the remaining members of the Trans Pacific Partnership (TPP) attend the TPP Ministerial Meeting during the APEC 2017 in Da Nang© REUTERS/Na Son Nguyen/Pool Trade ministers and delegates from the remaining members of the Trans Pacific Partnership (TPP) attend the TPP Ministerial Meeting during the APEC 2017 in Da Nang

Talks on pushing ahead the Trans Pacific Partnership (TPP) trade deal without the United States reached a critical point on Thursday as ministers from the 11 countries discussed a proposed agreement in principle.

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Asia-Pacific Strategic Investments Ltd

5RA

Trudeau to meet Myanmar leader Suu Kyi

  Trudeau to meet Myanmar leader Suu Kyi Trudeau to meet Myanmar leader Suu KyiSuu Kyi is an honorary Canadian citizen and Nobel laureate who has faced widespread international criticism for not speaking out against the violence against her country's Muslim minority.

— Reuters picDANANG, Nov 9 — Talks on pushing ahead the Trans Pacific Partnership ( TPP ) trade deal without the United States reached a critical point today as ministers from the 11 countries discussed a proposed agreement in principle.

Talks on pushing ahead the Trans Pacific Partnership ( TPP ) trade deal without the United States reached a critical point on Thursday as ministers from the 11 countries discussed a proposed agreement in principle.

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Meetings over the TPP, ditched by U.S. President Donald Trump in one of his first acts in office, have been held on the sidelines of Asia Pacific Economic Cooperation (APEC) meetings in the Vietnamese resort of Danang.

Clear agreement on proceeding without the United States would be a boost for the principle of multilateral free trade pacts over the bilateral deal-making that Trump favors.

But while Japan has been lobbying hard for a quick agreement to move ahead, Canada, New Zealand and Malaysia are among countries that have appeared less enthusiastic to hurry.

Trudeau TPP stance affects NAFTA: experts

  Trudeau TPP stance affects NAFTA: experts Trudeau TPP stance affects NAFTA: expertsEarlier this week, the prime minister hit the brakes on throwing Canada's full support behind the proposed "TPP 11," a salvage of the larger pact that President Donald Trump killed when he withdrew U.S. support earlier this year. Trudeau's muted enthusiasm for a quick deal triggered the harshest barrage of international criticism he's ever faced.

DANANG, Vietnam — Talks on pushing ahead the Trans Pacific Partnership trade deal without the United States reached a critical point on Thursday as ministers from the 11 countries discussed a proposed agreement in principle. Meetings over the TPP , ditched by U.S

TPP trade deal talks reach critical point at Asia - Pacific summit . 1510210883. World. They point to Mr Trump’s unpopularity in Europe as a major hurdle for a deal already drawing widespread opposition across the continent.

"We have collectively reached the stage where we can discuss a proposal for a final package for an agreement in principle of the TPP," Japanese Economy Minister Toshimitsu Motegi told ministers from the other countries.

"I would like to emphasize once again the importance of reaching an agreement in principle right here."

Motegi said negotiators had tried to reach a conclusion satisfactory to all, "or put in a different way, a conclusion that makes everybody equally unhappy".

The TPP aims to eliminate tariffs on industrial and farm products across a bloc whose trade totaled $356 billion last year. It also has provisions for protecting everything from labor rights to the environment to intellectual property - one of the main sticking points.

BREAK IN TALKS

As ministers left a first meeting on Thursday, they said more discussions were needed. An official said they were expected to meet again in the evening ahead of talks between TPP leaders on Friday.

More work needed on TPP, Trudeau says

  More work needed on TPP, Trudeau says DANANG, Vietnam - Prime Minister Justin Trudeau says it shouldn't have come as a surprise to anyone when Canada declined to sign an agreement-in-principle Friday on an updated Trans-Pacific Partnership trade deal. Trudeau said Saturday in Vietnam that despite some significant progress on the deal's framework there's still more work to be done, particularly when it comes to protecting Canada's auto and cultural sectors. His decision Friday to keep Trudeau said Saturday in Vietnam that despite some significant progress on the deal's framework there's still more work to be done, particularly when it comes to protecting Canada's auto and cultural sectors.

TPP trade deal talks reach critical point at Asia - Pacific summit . 1510225492. World. Parker added that the 11 countries were discussing suspension of certain provisions of TPP in order to proceed with the trade deal , but no consensus had been reached .

TPP trade deal talks reach critical point at Asia - Pacific summit . Login. Carl Sagan Day; Canadian firms selling more weapons to Saudi Arabia; Hands off C-58; Trudeau’s Asia tour; The rekindled TPP .

"We've got more work to do, but we are inching closer to an agreement so I remain very hopeful," Australian Trade Minister Steven Ciobo told reporters. Mexican Economy Minister Ildefonso Guajardo said talks were "very productive".

Mexico's position, like that of Canada, is complicated by the fact that is also renegotiating the North American Free Trade Agreement (NAFTA) with the Trump administration.

Canada, whose economy is the second biggest among the TPP-11 after Japan, said on Wednesday it would not be rushed into a revived TPP deal.

Among options being discussed by TPP countries is whether to suspend some provisions of the original agreement to avoid having to renegotiate it and potentially to entice the United States back in the long term, officials said.

Trump and other APEC leaders, including President Xi Jinping of China and Russian President Vladimir Putin, will meet on Friday in the Vietnamese seaside resort of Danang.

Talks on a joint communique from APEC leaders have been held up by wrangling over U.S. demands for changes to the language used concerning issues such as free trade and protectionism, officials at the talks said.

(Writing by Matthew Tostevin; Editing by Nick Macfie)

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