What to expect on global trade in Obama’s second term

Article – Reuters US President Barack Obama is expected to pursue an active trade agenda during his second term, centered on tough final negotiations of a new free trade pact in the Asia-Pacific region and continued challenges posed by China.What to expect on global trade in Obama’s second term November 7, 2012 2:10pm US President Barack Obama is expected to pursue an active trade agenda during his second term, centered on tough final negotiations of a new free trade pact in the Asia-Pacific region and continued challenges posed by China. Here is a glimpse of what’s ahead: Trans-Pacific Partnership agreement Talks on the proposed Trans-Pacific Partnership pact date back to the administration of Republican George W. Bush, but the Obama administration relaunched negotiations in March 2010 and has overseen their expansion to 11 countries: the United States, Australia, New Zealand, Vietnam, Malaysia, Singapore, Chile, Peru, Brunei, Canada and Mexico. A final deal could come in 2013, with negotiators just now beginning to grapple with the most politically sensitive issues. For the United States, the pact could require opening up protected sectors like dairy, sugar and textiles in exchange for new US export opportunities. Other countries such as Japan and South Korea could join the talks. US-EU trade agreement The United States and the 27-nation European Union are expected to announce a decision by the end of this year to...

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