“The U.S., Japan and 10 countries around the Pacific reached a historic accord Monday to lower trade barriers to goods and services and set commercial rules of the road for two-fifths of the global economy,” the Wall Street Journal reports.
“For the U.S., the Trans-Pacific Partnership trade agreement opens agricultural markets in Japan and Canada, tightens intellectual property rules to benefit drug and technology companies, and establishes a tightknit economic bloc to challenge China’s influence in the region.”
New York Times: “The Trans-Pacific Partnership still faces months of debate in Congress and will inject a new flash point into both parties’ presidential contests. But the accord — a product of nearly eight years of negotiations, including five days of round-the-clock sessions here — is a potentially legacy-making achievement for President Obama.”
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