Obama administration reportedly abandons TPP www3.nhk.or.jp
The administration of President Barack Obama has reportedly abandoned its long-running goal to ratify the Trans Pacific Partnership free trade agreement.
Several US media outlets said on Friday that Obama administration officials acknowledged the TPP deal has no way forward in the remaining days of his presidency, which ends in January.
They say opposition to the multilateral trade deal by president-elect Donald Trump and Republican lawmakers has effectively killed its chances.
White House official Ben Rhodes said on Friday that President Obama is planning to meet with leaders of TPP member countries when they gather at an APEC summit starting next Saturday in Peru.
Obama is likely to press home the importance of the economic and security implications of the trade pact.
Some countries are proposing negotiations for a new economic agreement that excludes the United States.
Published Date:2016-11-12