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Topic - Trans-Pacific Strategic Economic Partnership
The Trans-Pacific Partnership (TPP), also known as the Trans-Pacific Strategic Economic Partnership Agreement, is a multilateral free trade agreement that aims to further liberalise the economies of the Asia-Pacific region; specifically, Article 1.1.3 notes: “The Parties seek to support the wider liberalisation process in APEC consistent with its goals of free and open trade and investment.” The original agreement between the countries of Brunei, Chile, New Zealand and Singapore was signed on June 3, 2005, and entered into force on May 28, 2006. Five additional countries – Australia, Malaysia, Peru, United States, and Vietnam – are negotiating to join the group. On the last day of the 2010 APEC summit, November 14, leaders of the nine negotiating countries endorsed the proposal advanced by President Obama that set a target for settlement of negotiations by the next APEC summit in November 2011. - Source: Wikipedia
The Obama administration is close to completing a major trade agreement with a handful of Asian countries, including Japan.
The recent federal partial government shutdown and the ongoing bickering in Washington between Democrats and Republicans could scare away potential trade partners in Asia, business leaders say.
The most "transparent administration in history" has a stunted understanding of free trade. A treaty called the Trans-Pacific Partnership would determine how Americans listen to music, watch movies and use the Internet. It was written in secret by Hollywood and the administration to protect the usual suspects.
A bipartisan group of lawmakers in the House are forming a new caucus to promote a new free-trade deal that would open up markets around the Pacific Rim, including the high-coveted Japanese market.
Caroline Kennedy appeared to be well on her way Thursday to become the first woman to serve as U.S. ambassador to Japan, after members of the Senate Foreign Relations Committee showered her with praise and said she is well-suited for the job.
The top U.S. trade official said Tuesday that he is "cautiously optimistic" about the nation's ability to complete a major free-trade pact with 11 other key Pacific Rim nations by the end of the year, after the latest round of the talks on the potential Trans-Pacific Partnership (TPP) wrapped up last week in Malaysia.
Though it could be overshadowed by the conflict in Syria, leaders from the world's major industrial nations plan to discuss how they can boost economic growth and regain competitiveness during the Group of Eight summit this week.
Secretary of State John F. Kerry attempted to sharpen the point of the Obama administration's so-called "pivot" to Asia policy here Monday, outlining a vision for what he described as a "Pacific Dream" — not unlike the "American Dream" — in which Asian nations could grow more closely together with each other and the U.S. than ever before on economic and security issues during the decades to come.
Economists say the long-awaited addition of Japan to a pending trade agreement between the U.S. and the Asia-Pacific region was worth the wait, and the benefits will outweigh any slowdown in negotiations.
The United States should take advantage of a rare burst of momentum on the international trade front before it dissipates, a group of top American CEOs said Thursday.
In many ways, the timing of Japan's Prime Minister Shinzo Abe's Friday visit to Washington and talks with President Obama couldn't be better for both leaders.
Despite the postelection talk of bipartisanship, good feelings in American politics don't guarantee policy success, and nowhere has this been truer than in international trade. Just look at the Korea-U.S. Free Trade Agreement.
As the 2012 election draws near, many women don't have much time to study the policy details of the two candidates. They are either running around with the kids or running around at work -- and often trying to do both at the same time.
The free-trade consensus of the previous two decades has frayed under President Obama, and while he has pushed through some low-level agreements, he has fallen far short of his predecessors on this key driver of the nation's economy, and analysts say the U.S. is lagging behind many of its chief competitors.
Republican Sen. John McCain wants the Obama administration to ramp up its free trade agenda in Asia and suspend U.S. economic sanctions on Myanmar.