United States, 11 Pacific Rim countries reach trade deal

WASHINGTON — The United States and 11 other Pacific Rim countries have agreed to a trade pact that cuts trade barriers, sets labor and environmental standards and protects multinational corporations' intellectual property.

The agreement on the Trans Pacific Partnership was reached Monday after marathon negotiating sessions in Atlanta through the weekend.

"We think it helps define the rules of the road for the Asia-Pacific region," said U.S. Trade Rep. Michael Froman.

The partnership is designed to encourage trade between the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The deal still has to be approved by the U.S. Congress, where opposition is widespread. President Obama has to wait 90 days after agreement before signing the pact, and only then will Congress begin to debate it.

Read Tuesday's Arkansas Democrat-Gazette for full details.

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