U.S., Other Nations Reach Agreement On Trans-Pacific Partnership

“We, the trade ministers … are pleased to announce that we have successfully concluded the Trans-Pacific Partnership negotiation,” U.S. Trade Representative Michael Froman announced Monday morning, to a loud round of applause.

Froman said the “historic” TPP agreement will “support jobs, drive sustainable growth, foster inclusive development and promote innovation across the Asia-Pacific region,” while also raising living standards.

The 30-chapter announcement means that a years-long process to ease trading between the U.S. and 11 Pacific Rim nations is closer to being finalized, with negotiators clearing hurdles on how to handle everything from dairy products and drug patents to car factories.

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