In principle, almost everyone's in favor of free trade. It promotes international harmony, raises wages, helps economies grow. It's an article of historical faith that the enactment of harsh protective U.S. tariffs in 1930 contributed to the Great Depression. And who wants that?
(Reuters) - The Obama administration is confident lawmakers will warm up to a proposed Pacific free trade deal on the grounds it is a chance for the United States, rather than China, to dictate the rules of Asian trade, a top official said on Thursday.
TOKYO -- Japan and the U.S. are inching closer to an agreement on import tariffs on U.S. agricultural products as part of the ongoing Trans-Pacific Partnership free trade talks.
MANILA - President Benigno S. Aquino III is keen on the Philippines joining the Trans-Pacific Partnership (TPP), a free trade area spearheaded by the United States.
There will be no "major announcement" on a Washington-backed Asia-Pacific free trade deal during a meeting of leaders from the region in Beijing this week, U.S. Trade Representative Michael Froman said on Sunday
US President Barack Obama said on Monday he sees momentum building for a Washington-backed free trade agreement in the Asia-Pacific, after arriving in Beijing on the first leg of an eight-day Asia tour.
(Reuters) - China said on Friday it hoped U.S.-led Asia-Pacific free-trade talks would be transparent and China would be open to joining them, playing down controversy over competing U.S. and Chinese visions for regional trade.
Japan's Economy Minister Akira Amari said on Saturday he saw progress in Asia-Pacific regional trade negotiations, although it would be difficult to reach an agreement by the end of the year, according to Jiji press.
The Trans-Pacific Partnership (TPP) offers an opportunity for the United States to increase trade with 11 other countries. Completing the agreement will create the largest free trade area, in terms of both goods and services, in which the United States participates.
While Japanese and U.S. officials expect little change in the U.S.-Japan relationship following Tuesday’s midterm elections, experts are divided on what a Republican-controlled Congress means for Trans-Pacific Partnership negotiations and, ultimately, for reaching a deal before the 2016 presidential election.