The Globe and Mail reports in its Thursday, Nov. 5, edition that unnamed sources say Pacific trading partners are close to releasing details of the Trans-Pacific Partnership (TPP), which could be made available this week. A Reuters dispatch to The Globe reports that
the trade pact is the most ambitious in a generation and a landmark achievement for United States President Barack Obama.
Unions and many of Mr. Obama's fellow Democrats, including presidential candidate Hillary Clinton, oppose the deal.
Some pro-trade Republicans have also been wary of supporting the agreement until the whole document is released and many business groups are keen to see the fine print.
New Zealand is the official depository for the agreement, meaning it is responsible for circulating the text and related documents and notifications. Auckland is 18 hours ahead of Washington.
Release of the text may also start the clock ticking on the 12 member countries' domestic processes for ratifying the deal.
Release this week would extend the period the text is available for public scrutiny before signing.
The deal will take effect within 60 days of all countries finishing the necessary implementation work.
© 2024 Canjex Publishing Ltd. All rights reserved.