Twelve countries, including the United States, reached an agreement Monday on an historic trade agreement that could economically tie together more than 400 million people in Asian Pacific and American countries. The pact would cover trade for wide ranging products, from rice to pharmaceutical drugs to cars.
The Trans-Pacific Partnership, which negotiators have been working on for eight years, would thaw trade relations among countries included in the regional zone, including Japan and the United States. For automakers in both countries, the tentative deal includes provisions for Japanese automakers to (eventually) bring light-duty trucks to the U.S. For American automakers, part of the proposed agreement included a side deal between America and Japan to allow access for U.S. automakers to traditionally closed Japanese markets.
The agreement faces an uphill battle to get congressional approval; House Republicans and presidential candidates already have roundly dismissed the deal.
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