Vietnam says fundamental deal reached on trade

Garment workers sew clothes at the Pro Sports factory in Nam Dinh province Vietnam on Oct. 24

Garment workers sew clothes at the Pro Sports factory in Nam Dinh province Vietnam on Oct. 24

Trade ministers from 11 Pacific Rim countries have reached an agreement on the "core elements" of the TPP trade pact, even with the U.S. staying out of the deal.

Late Thursday, Trudeau's Liberal government flatly denied media reports quoting Japan's economy minister saying that a "deal in principle" had been reached on the TPP.

The heads of the 11 countries that have been negotiating a revised Trans-Pacific Partnership had planned to meet on the sidelines of the Asia-Pacific Economic Co-operation leaders' summit in Danang, Vietnam.

Any kind of deal looked doubtful on Friday, when a summit of TPP leaders was called off after Canadian Prime Minister Justin Trudeau did not attend.

"With CPTPP we have an opportunity not only to restore the bipartisan consensus around trade, but also to move on to thinking more deeply about how this agreement and others in the pipeline can be made to work better for people".

Some say that if Trudeau's tough stance towards the TPP is being influenced by NAFTA and Trump, then that's just not a good thing.

Reactions to Detroit Lions vs. Cleveland Browns game
Golden Tate caught six passes for 97 yards and a score, while cornerback Nevin Lawson returned a fumble 44 yards for a touchdown. That was a dumb play call that will overshadow the fact that Cleveland played better today than it has for most of the season.

An agreement to push forward TPP would have been a boost for the principle of multilateral trade deals as opposed to the Trump approach. It's unclear what the exact sticking points were, but officials have alluded to differences over the unequal impact more open trade has had on workers and concerns over automation in manufacturing that could leave many millions in a wide array of industries with no work to do.

The basic agreement would maintain "the high standards, overall balance and integrity of the TPP while ensuring the commercial and other interests of all participants", they said.

"The suspended provisions, in fact, will help narrow TPP challenges for the country", Thang said.

The TPP member countries are trying to find a way forward without the US, the biggest economy and, before Trump took office, one of its most assertive supporters.

Why not take a few months to draft a better agreement that removes all of the restrictive and damaging clauses included in the original TPP at the behest of the United States?

Talks between trade and foreign ministers from the group failed to reach agreement on their usual joint statement in the face of US demands to remove language about supporting free trade and fighting protectionism.

21 die as boat with 38 capsizes in Andhra Pradesh
According to PTI , the police said that over 17 others are feared dead, but their bodies are yet to be recovered. The boat with around 38 persons was heading to the Pavitra Sangamam Ferry ghat near Ibrahimpatnam.

Earlier this week, the prime minister hit the brakes on throwing Canada's full support behind the proposed "TPP 11", a salvage of the larger pact that President Donald Trump killed when he withdrew USA support earlier this year.

Motegi, taking part in the Abe-Trudeau summit, said "no clear explanation" was offered as to why Canada can not support and announce the agreement at the leaders' level.

He expressed a willingness to do bilateral deals in the region on the basis of mutual respect and mutual benefit, while saying the United States had suffered from World Trade Organisation (WTO) rules by obeying them while others did not.

In contrast, Chinese President Xi Jinping told the same group that nations need to stay committed to economic openness or risk being left behind.

Vietnam, where several Taiwanese business interests are concentrated, is a TPP member, which could add leverage to Taiwan's bid for membership, Liu added.

"I am always going to put America first, the same way that I expect all of you in this room to put your countries first". The release of a set of ministerial agreements early Saturday suggested the leaders would finesse any disagreements, as usual, to demonstrate unity and avoid embarrassing their hosts. Danang, Vietnam's third largest city, is in the midst of a construction boom as dozens of resorts and smaller hotels pop up along its scenic coastline.

Switzerland v Northern Ireland
Corry Evans was equally furious and his misery was compounded by receiving a yellow card that rules him out of the return leg. The Mirror took screenshots of the tweets before her account disappeared. "I would never condone racism in any way".

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.