Ministers in the 12-country Trans-Pacific Partnership free trade talks fell short of setting a clear timeline for ending their long-running negotiations as they wrapped up their two-day meeting Tuesday in Singapore, although they stressed that progress has been made on tariff issues.
“We cemented our shared views on what is needed to bring negotiations to a close,” the ministers said in a joint statement issued following the meeting, but it was unclear what outcome was yielded during their gathering.
The ministers did decide that the chief negotiators from the member countries will meet in July to further accelerate talks but they did not clarify where the meeting will be held.
U.S. Trade Representative Michael Froman said at a joint press conference that the ministers felt a “positive sense of momentum,” and that progress recently made by Japan and the United States on bilateral issues allowed TPP member countries to “enter a new phase of negotiations.”
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at email@example.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.