US And 11 Countries Reach Massive Trade Agreement
Negotiators have reached a deal in the 12-nation trade agreement known as the Trans-Pacific Partnership.By Kate Grumke, Matt Picht | October 4, 2015
It looks like the White House might get to flex its recently won trade authority in Congress after all. Negotiators from the U.S. and 11 other nations agreed to a deal on the massive, secretive, 12-nation trade agreement known as the Trans-Pacific Partnership, or TPP.
The deal, which aims to create an open trade zone between 12 countries covering 40 percent of the world's economy, has been in the works since 2008. Negotiations over the fine details delayed the agreement's completion for years.
One of the last hurdles was a dispute between Australia and the U.S. over how long pharmaceutical companies can exclusively sell new biotech drugs.