3rd February: Ministers to sign Trans Pacific Partnership
Trade Ministers from 12 Asia-Pacific nations are set to sign the Trans-Pacific Partnership in Auckland, New Zealand.
The White House has advocated for the deal, saying it has clear economic benefits.
Our U.S. Correspondent Priscilla Huff has the perspective from Washington:
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Congressional leaders are looking at the Trans Pacific Partnership with a skeptical eye.
Following a meeting between U.S. President Barack Obama, Speaker of the House Paul Ryan, and Senate Majority leader Mitch McConnel,
the lawmakers there are concerns about the TPP that must be address before final approval.
White House spokesman Josh Earnest
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The agreement covers about 26 percent of global trade and upwards of 40 percent of American imports and exports alone.
The Obama administration has said, the TPP is "centerpiece of America's economic rebalancing
and can help boost regional integration.
But development experts say, actually, it's unlikely the average American will feel any impact of the TPP once it's ratified.
Kimberly Elliott is with the Center for Global development.
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The deal took months of intricate negotiations
with each of the 12 nations concerned about specific sectors
such as canadian timber and dairy or japanese cars or labor practices in Vietnam
Jeffery Schott of the Peterson Instititue for International Economics thinks on balance, the TPP is a good thing
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And groups such as the U.S. Chamber of Commerce - which represents America's largest industries
support the deal
even as Congressional lawmakers aren't so sure
With recurring criticism that the deal was negotiated for the most part in secret
the White House is emphasizing the next step is allowing for plenty of public comment in the U.S.
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President Obama would like the U.S. Congress to finish it's part of the formalization of the treaty before lawmakers head home to campaign for re-election, in early July.
But political watchers here in Washington think,
the most likely time the Trans Pacific Partnership will be fully approved in the U-S
is in November
after the national elections.
Priscilla Huff, Washington
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