11 Trade ministers reach deal on Pacific trade without US
DANANG, Vietnam (AP) — In a major breakthrough, trade ministers from 11 Pacific Rim countries said they reached a deal Saturday to proceed with the free-trade Trans-Pacific Partnership deal that was in doubt after President Donald Trump abandoned it.
A statement issued in the early hours Saturday said an accord was reached on “core elements” of the 11-member pact. The compromise was delayed by last-minute disagreements that prevented the TPP leaders from meeting to endorse a plan on Friday.
“Ministers are pleased to announce that they have agreed on the core elements of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership,” the 11 nations said in a statement.
It said that the ministers maintained “the high standards, overall balance and integrity of the TPP while ensuring the commercial and other interests of all participants and preserving our inherent right to regulate.”