Out of the gaze of most major media outlets, negotiators have resumed talks on the largest Pacific free-trade agreement in history.
Representatives from the United States and 11 Pacific nations are meeting in Atlanta hoping to finalize the Trans-Pacific Partnership, that would allow free trade and open markets between a dozen Pacific nations including Canada, Japan and Australia.
Negotiators are hoping to finalize the trade deal before October 19 elections in Canada in case there is a change of government in that nation which would jeopardize the agreement.
President Obama is pushing hard for a deal to be made and even mentioned the deal during his speech at the United Nations.
Negotiators reportedly settled one contentious issue in the current negotiations: allowing automakers the right to sell more cars in the US with parts made in Asia. The reported levels of parts required to be sold without tariff are below the levels in the North American Free Trade Agreement that’s boosted Mexico’s auto production. The deal would allow more than half a car’s parts to be made outside the United States.
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