The Obama administration this week said it hopes to finish negotiations on the proposed Trans-Pacific Partnership agreement this year and make “significant progress” on the Transatlantic Trade and Investment Partnership as well, according to “The President’s Trade Policy Agenda,” from the Office of the U.S. Trade Representative (USTR).
“In pursuit of job-supporting opportunities, the administration will work to conclude negotiations of the Trans-Pacific Partnership in 2014, producing a high-standard, comprehensive, 21st century agreement that provides new export opportunities for U.S. industry and agriculture, open markets for U.S. services and investment, protects worker rights, and enhances environmental protection, the annual USTR report said. To read the full report, click on report.
U.S. Trade Representative Michael Froman who recently returned from Pacific Rim trade talks in Singapore said that TPP talks, which formally began four years ago, were much further along. But, he would not commit to any deadline to conclude negotiations with Japan, Vietnam, and nine other countries, saying “we’re going to let the substance determine the timetable.” Froman did say the talks had “momentum” after the Singapore sessions, but Japan remains reluctant to open its agriculture markets, which remains a major stumbling block, he said.
The USTR annual report also said the administration expects “to make significant progress in the TTIP negotiations” this year with the 28 nations of the European Union. “After three negotiating rounds in the latter half of 2013, the administration plans to maintain a similar pace for the talks in 20014. Negotiators will seek ambitious market openings in goods, services, and investments,” the report said.
