U.S. In Pacific Trade Talks Pushing Corporate Agenda

Negotiations over a major trade agreement, the TransPacific Partnership (TPP) are said to be nearing completion, with the United States resisting pressure from some smaller countries that want to subject the Internet, e-commerce, pharmaceuticals and some service industries to local regulation. The twelve countries that make up the TPP are the U.S., Canada, Mexico, Japan, and several smaller countries, including Vietnam and Singapore. Critics, including some in the U.S., say the treaty will set important societal standards by a largely secret diplomatic process rather than a legislative one. When the TPP negotiations are concluded, the first step for approval in the U.S. would be granting President Obama fast-track authority, meaning the treaty would get an up or down vote in Congress.