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TPP trade talks head into Monday

Earlier in the day, Japan’s Economy Minister Akira Amari said he was expecting a deal “in principle” to be announced Sunday afternoon. Amari told Japanese journalists that there had been “major progress” Sunday morning and that a solution had been found to the main road block to a deal, how to protect developers of biologic drugs, which saw the United States and Australia sharply divided on the issue. The administration of President Barack Obama, the prime driver behind the TPP, wants it to create a foundation for “21st century trade rules,” setting standards on trade, investment, data flows and intellectual property that eventually non-TPP members — particularly China — will have to accept.

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