Reports in Japanese media late Thursday said an agreement in principle had been reached to press ahead with the TPP-11. “Despite reports, there is no agreement in principle on TPP,” he said in a tweet. But other nations, including Canada, Malaysia and Vietnam, are keen for tweaks to various points and are wrangling over whether some initial elements can be suspended to avoid the collapse of the pact. Canada wants to keep the strong “gold standard” elements of the deal, including guarantees on upholding labour rights inside signatory countries. The original TPP deal was previously described by the US as a “gold standard” for all free trade agreements because it went beyond just cutting tariffs.

Source: New Strait Times November 10, 2017 02:03 UTC