The negotiations for the Trans-Pacific Partnership (TPP) free-trade agreement (FTA) have gone quiet. Two weeks back, there was feverish activity, at the meeting in Hawaii—it seemed that TPP nations had the end-game before them. But the talks broke down over access for dairy products, motor vehicles, and sugar. Also at issue was an insistence from the United States that the period of special protection for the manufacturers of sol-called biologic drugs be extended for 12 years. No new date for further negotiations has been announced.
The media has reported that differences had been narrowed down substantially and only small steps had to be taken to seal the deal. The suspense on the continuation of talks going forward has, therefore, caused some surprise.
Under negotiations for a decade, TPP would unite 12 Pacific Rim countries – Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam – in an agreement so large it would account for 40 percent of the global economy.
