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TPP countries agree to keep trade deal alive

Saturday, November 11, 2017 - 01:17

Members of the Trans Pacific Partnership (TPP) have agreed to continue working on the proposed trade deal despite early Canadian resistance in talks that had raised new doubts about its survival. Grace Lee reports.

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A major breakthrough in talks on the Trans Pacific Partnership at the APEC summit, the 11 countries involved agreeing to keep deal alive. (SOUNDBITE)(Japanese) JAPANESE ECONOMY MINISTER TOSHIMITSU MOTEGI SAYING: "We reconfirmed that we agreed on a draft of a statement." That final statement released on Saturday (November 11), despite resistance from Canada earlier this week that put new doubts over the deal's survival. (SOUNDBITE) (English) CANADIAN MINISTER OF INTERNATIONAL TRADE, FRANCOIS-PHILIPPE CHAMPAGNE SAYING: This is not about speed, this is about outcome. I've said to my colleague, this isn't about Friday, but this is about the next decade. Moving ahead with the TPP is a boost for the principle of multilateral trade agreements, after U.S. President Donald Trump ditched the deal this year, touting an "America First" policy which was once again his focus in his speech at the summit on Friday (November 10). (SOUNDBITE)(English) U.S. PRESIDENT, DONALD TRUMP, SAYING: "The U.S. will no longer turn a blind eye to violations, cheating or economic aggression." But there's still a lot of work to be done for the remaining nations of the TPP. The countries have committed to "the core elements" of a deal, but officials say there are still areas that need consensus for a finalized version. Japan has been lobbying hard for the agreement which aims to eliminate tariffs on industrial and farm products, partly to counter China's growing dominance in Asia.

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TPP countries agree to keep trade deal alive

Saturday, November 11, 2017 - 01:17