Deal Reached on Controversial Trans-Pacific Partnership

  05 October 2015    Read: 759
Deal Reached on Controversial Trans-Pacific Partnership
The secretive trade pact is expected to cover about 40 percent of the global economy.
Pacific Rim trade ministers reached a deal on a sweeping trade pact that will cut trade barriers and set common standards for 12 countries (the USA, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam), an official familiar with the talks said on Monday.

The TPP has been negotiated in unusual secrecy between the United States and 11 Asian and Pacific Rim nations. The controversial trade pact is expected to cover about 40 percent of the global economy. Uncertain implications for workers` rights, employment and the environment have drawn heavy criticism from labor unions and watchdogs.

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