The party is getting a little bigger for the Trans Pacific Partnership (TPP). On Monday, the nine countries involved in the trade deal negotiations extended an invitation to Mexico to join the talks. On Tuesday they extended an invitation to Canada. They will join the U.S., Australia, New Zealand, Peru, Chile, Singapore, Malaysia, Vietnam and Brunei. Membership must be approved by the nine current partners, given the Mexican and Canadian involvement in NAFTA, TPP approval is likely.
The trade pact would link together the partners of the Pacific Ocean but has higher labor, environmental and intellectual property standards than other trade deals. Hope is the deal could be completed by the end of 2012 but there are a number of roadblocks to be negotiated. Dairy is one of the big issues, the U.S. has a problem with the trade practices of the New Zealand Dairy Board and others have a problem with Canada’s import tariffs and supply management system.
Japan is also seeking to join the negotiations but there are concerns Tokyo will be willing to open its market to agriculture and autos.
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