US confident of TPP deal by October
Hurdles remain for 12-nation Trans-Pacific pact but top US official voices confidence after Brunei meeting, though some tariffs may stick
The United States and 11 other countries in the Asia-Pacific region have begun a final push to reach a landmark trade deal this year and hope for significant progress by an October meeting of leaders in Bali, the top US trade official said.
"It's not surprising that at the final stage of negotiation, as we enter the end game, [the most sensitive issues] are left on the agenda," US Trade Representative Michael Froman said on his way back from a meeting in Brunei with his counterparts involved in the Trans-Pacific Partnership (TPP) talks.
Froman left open the possibility that the agreement might not eliminate all tariffs among the 12 countries, which are the United States, Japan, Canada, Mexico, Australia, New Zealand, Peru, Chile, Vietnam, Malaysia, Singapore and Brunei.
He said a Japanese offer to eliminate 85 per cent of tariffs was "a good initial step … toward a comprehensive agreement".
Negotiators in Brunei on Friday began their 19th round of talks on the proposed pact after the meeting between Froman and other trade ministers.
The United States is under pressure in the talks to eliminate import restrictions on politically sensitive products such as sugar, dairy, footwear and clothing.