The drought parching Singapore and swaths of Malaysia and Indonesia threatens to raise food prices, slow economic growth and disrupt water supply in the region, home to the world’s oldest tropical rain forests.
Ministers negotiating a U.S.-led trade pact to link countries around the Pacific failed to resolve questions on market access during talks in Singapore, centered around Japan’s protection of its farmers.
Talks on a Pacific trade pact are operating on an “artificial timeframe” for completion, the U.S. Ambassador to Singapore said, as ministers prepare to meet later this month on a deal that would link an area with about $28 trillion in annual economic output.
The first major agreement to update global trade rules in two decades moved nearer after the U.S. and India bridged differences over agriculture subsidies and food security, people familiar with the negotiations said.