Access to cheaper drugs in other countries may be limited by a provision sought by the U.S. in a Pacific trade deal, according to patent specialists who reviewed a document exposed by the WikiLeaks anti-secrecy group.
Some Democrats in Congress, whose support Barack Obama needs for trade accords, want to put the brakes on a Pacific-region deal just as the president prepares to meet with leaders of nations drafting the pact.
Negotiators for nine nations working towards a Pacific-region trade pact made “significant progress” in areas including customs, telecommunications, cross-border services and government procurement, a U.S. official said as the latest round of talks ended.
World Bank President Robert Zoellick criticized President Barack Obama’s administration for failing to provide leadership in the Doha round of trade talks and adopting a defensive stance that helped stall discussions.
Japan’s government wants it. Mitsubishi Corp. backs it. Toyota Motor Corp. says they need it to compete. Yet, whether Japan joins the biggest attempt at a global free-trade pact may hinge on part-time rice farmers like Tadashi Hirose. And he doesn’t much like it.
The Obama administration, facing growing complaints in Washington that it hasn’t persuaded China to increase the value of its currency, filed two trade cases against the world’s largest exporter of goods.
Senate Finance Committee Chairman Max Baucus said he will support a pending free-trade agreement with South Korea after the Obama administration said it will pursue talks with the Asian nation on beef sales.
U.S. Senator Rob Portman said Republicans will guarantee a vote on aid for workers displaced by foreign competition, offering a path to renew the program should the Obama administration separate it from trade accords.