No 1038 Posted by fw, April 25, 2014
Japan says talks with US on Pacific trade pact halted for now with no resolution in sight
TPP Sales Trip in Japan: #Fail
Above: Protest at US Embassy in Manila at start of Obama’s Asia-Pacific tour.
When President Obama departed on his long-delayed trip to Asia this week the Trans-Pacific Partnership (TPP) was widely perceived as on life support. TPP supporters, such as the U.S. Chamber of Commerce, confidently raised expectations that the trip would provide a breakthrough in negotiations. But, as the President’s visit to Japan draws to a close, it is clear that the sales trip has failed.
In this case even giving up everything you want and getting nothing back in return wasn’t enough as U.S. negotiators made clear before the trip that they were desperate to report progress of some kind, going so far as to allowing Japan to retain tariffs on rice and wheat while agreeing to cut U.S. tariffs on 99.5 percent of goods imported from Japan.
The only progress made with TPP, like with the fast-track trade promotion authority needed to ram the controversial trade deal through Congress, is in building opposition to it ever being passed.
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