U.S. Secretary of State John Kerry has weighed in on the Trans-Pacific Partnership (TPP) negotiations, expressing confidence that the trade pact will be completed by the end of the year.
Kerry cited dairy and autos as two of the main unresolved issues, but said those hurdles can be overcome.
Meanwhile, the Los Angeles Times reports the battle over dairy is fraught with domestic political considerations. With national elections in October, Canada’s ruling Conservative Party has been reluctant to open up its dairy market. The Times says Canada’s offer in Hawaii was far from what was sought by Australia and New Zealand, a major dairy exporter. Canada’s hard line in turn prompted the U.S. to resist liberalizing its market. And the dominoes tipped over to Japan too, which didn’t want to widen its dairy market when other offers were uncertain.
TPP negotiators are hoping to meet again later this month to wrap up the 12-nation trade agreement. But even if that happens, political pundits say the fate of TPP in Congress is uncertain, especially in a presidential election year.
Source: www.brownfieldagnews.com