Canada And Mexico Join Pacific Rim Trade Talks

U.S. trade officials notified Congress last week that Canada and Mexico are joining the Trans-Pacific Partnership (TPP), a proposed free-trade agreement the Obama Administration has been negotiating for the past three years. Along with the U.S., the talks involve Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam. The American Chemistry Council, a chemical industry trade group, says it welcomes the pact’s expansion. “The inclusion of Mexico and Canada to the Pacific free-trade talks will enable U.S. businesses to advance existing commercial relationships with our North American trading partners, while at the same time broadening the scope and impact of the negotiations,” ACC says. TPP seeks to form a free-trade bloc spanning the Pacific Ocean by removing tariffs and other trade barriers while strengthening measures to protect intellectual property rights. Negotiators concluded a round of talks in San Diego on July 10 and plan to meet again in September in Leesburg, Va. Trade policy analysts expect the talks to wrap up next year.