No Deals On The Table Regarding Trans Pacific Trade Pact

Leaders_of_TPP_member_statesThings have not been going according to plan for Obama’s administration these days. In another setback, this time in the area of trade routes and partnerships, official talks which were aimed to allow the United States of America to set up a key free-trading zone between and with twelve Pacific Rim nations, the venture that has been dubbed the Trans-Pacific Partnership, have come to an unsuccessful end. This comes as a shock after claims by Michael Froman, the Representative for US Trade stated that there had been significant progress made in this week’s discussion at Hawaii, with the meeting adjourning to a later unannounced date in the future.

Official spokes people and other sources said that there still remained big differences among the participating countries. Most of these issues exist from the question of how long a copyright for a biological drug would last, how an automobile manufacturer’s country of origin is defined and the accessing power of New Zealand to international dairy markets.

So to the fact that there is so far no formal agreement, there is very little chance that the Congress will have to vote regarding the pact anytime this year. In fact, it may be one of the key issues to vote on in 2016, a time when current the Obama admin may be leaving the office and the election for the new President will be the topic of the hour.

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