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Latest News

Pacific Rim free trade talks fall short of deal

Japanese Economy Minister Akira Amari and US Trade Rep. Michael Fromam participate in a press conference in Lahaina, Maui, HawaiiBy Ami Miyazaki and Krista Hughes LAHAINA, Hawaii (Reuters) - Pacific Rim trade ministers failed to clinch a deal on Friday to free up trade between a dozen nations after a dispute flared up over auto trade between Japan and North America, New Zealand dug in over dairy trade and no agreement was reached on monopoly periods for next-generation drugs. Trade ministers from the 12 nations negotiating the Trans-Pacific Partnership, which would stretch from Japan to Chile and cover 40 percent of the world economy, fell just short of a deal at talks on the Hawaiian island of Maui but were confident an agreement was within reach. "The undergrowth has been cleared away in the course of this meeting in a manner that I would say is streets ahead of any of the other ministerial meetings that we have had," New Zealand Trade Minister Tim Groser said.


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