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Obama hopes for Pacific trade deal by November

US President Barack Obama (R) holds a bilateral meeting with New Zealand Prime Minister John Key (L) in the Oval Office of the White House in Washington, June 20, 2014US President Barack Obama said Friday he hopes to have an agreement on framing a vast pan-Pacific trading block by the time he makes his next visit to Asia in November. The Trans-Pacific Partnership (TPP) would encompass 40 percent of the global economy and include 12 nations. Talks on setting up the pact have been delayed by intricate market access negotiations between Japan and the United States. Obama said he and New Zealand’s Prime Minister John Key discussed the latest timeline for the deal in Oval Office talks Friday, and that he hoped to have a “document” on it by the end of the year.

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