clear
Wednesday November 22nd, 2017 6:53PM

The Latest: Vietnam says fundamental deal reached on trade

By The Associated Press
Related Articles
  Contact Editor

DANANG, Vietnam (AP) — The Latest on the summit of 21 Pacific Rim economies in Vietnam (all times local):

11:20 a.m.

The Vietnamese trade minister says 11 Pacific Rim countries have reached a "fundamental agreement" on continuing with a free trade pact after the U.S. abandoned it.

Trade Minister Tran Tuan Anh told a news conference: "We have reached an agreement on a number of fundamental parts." He also says the ministers changed the name of the Trans-Pacific Partnership to the Comprehensive and Progressive Trans-Pacific Partnership.

The 11 counties remaining in the trade pact rejected by President Donald Trump in January have been working to revise the deal to allow them to proceed without U.S. involvement.

But a basic deal was delayed by unspecified disagreements raised by Canada and possibly other countries that were worked out in talks that extended late into the night Friday.

Tran Tuan Anh says the trade ministers were able to suspend certain clauses to enable them to carry out the framework agreement while maintaining high standards on labor and other issues.

___

10:30 a.m.

Trade ministers chairing meetings on the free-trade Trans-Pacific Partnership in Danang, Vietnam, will hold a news conference at 11 a.m. local time (0400 GMT).

Japan and Vietnam have been chairing the talks on the sidelines of the Asia-Pacific Economic Cooperation forum's annual summit.

Canada's Minister of International Commerce Francois-P Champagne said in a tweet Saturday: "After lots of work, big progress on the 'Comprehensive and Progressive Trans-Pacific Partnership.'"

The 11 counties remaining in the trade pact rejected by President Donald Trump have been working to revise the deal to allow them to proceed without U.S. involvement.

But a basic deal was delayed by unspecified disagreements raised by Canada and possibly other countries that were worked out in talks that extended late into the night Friday.

___

9:20 a.m.

Leaders from 11 Pacific Rim countries look unlikely to formally endorse a deal to proceed with the free-trade Trans-Pacific Partnership despite overnight progress in bridging differences on some issues.

A statement issued in the early hours Saturday said an accord was reached on "core elements" of the 11-member pact.

The TPP leaders called off at the last minute a meeting to endorse a plan on Friday. Japan's economic minister, Toshimitsu Motegi, said scheduling difficulties made it difficult for the leaders to meet Saturday to formally approve an accord.

Canadian officials say their country was not alone in raising concerns over the proposed plan. They say Prime Minister Justin Trudeau's absence from Friday's meeting was due to scheduling problems.

___

7:20 a.m.

Trade ministers say they have reached a basic agreement on a Pacific Rim trade pact without the United States.

A statement issued in the early hours Saturday says an accord was reached on "core elements" of the 11-member Trans-Pacific Partnership, a deal abandoned by President Donald Trump after he took office.

The compromise was delayed by last-minute disagreements that prevented TPP leaders from meeting to endorse a plan on Friday.

___

7:45 p.m.

Japanese Prime Minister Shinzo Abe says talks on a Pacific Rim trade pact have stalled after Canada said it could not accept a proposed basic agreement on proceeding without the United States.

Abe made the comments Friday after meeting with his Canadian counterpart, Justin Trudeau, in Danang, Vietnam, on the sidelines of the Asia-Pacific Economic Cooperation forum.

U.S. President Donald Trump pulled out of the Trans-Pacific Partnership in January. Leaders of the 11 countries remaining in the TPP had been due to meet and endorse a deal worked out in last-minute talks overnight.

There was no immediate word on Canada's stance. However, Trudeau said days earlier that Canada would not be rushed into an agreement.

  • Associated Categories: Associated Press (AP), AP World News, AP Business, AP Business - Economy
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
The Latest: Vietnam says fundamental deal reached on trade
The Latest: Vietnam says fundamental deal reached on Pacific trade pact
11:27PM ( 8 minutes ago )
The Latest: Producer denies 'ER' actor's molestation claim
The Latest: Director-producer denies Anthony Edwards' molestation claims
11:16PM ( 19 minutes ago )
Sri Lanka govt faces pressure over torture, rape allegations
Sri Lanka is coming under increasing pressure to answer for allegations surrounding human rights abuse
11:16PM ( 19 minutes ago )
Associated Press (AP)
The Latest: Lebanon minister says probe 'libelous' Saudis
Lebanon's Justice Minister has asked the country's prosecutor general to launch an investigation against two Saudi citizens who appeared on a TV talk show and branded the Lebanese president and parliament speakers as "terrorists."
9:47PM ( 1 hour ago )
The Latest: Formal Pacific trade deal minus US to take time
The Latest: Trade ministers reach basic agreement on a Pacific Rim trade pact, but no formal deal at APEC
9:25PM ( 2 hours ago )
Anger rises as toxic air chokes India's capital
Thick smog has constricted India's capital this week, smudging landmarks from view and angering residents
8:23PM ( 3 hours ago )
AP World News
Arizona lawmaker accused of sex remarks loses committee post
A top Arizona lawmaker has been suspended from the chairmanship of a powerful committee after the publisher of Arizona's largest newspaper joined a growing list of women who say he subjected them to inappropriate sexual comments or actions
8:26PM ( 3 hours ago )
The Latest: Pamela Adlon expresses shock over C.K. behavior
The Latest: Pamela Adlon, a frequent collaborator with Louis C.K., says she and her family are shocked and devastated by comedian's admission of sexual misconduct
8:08PM ( 3 hours ago )
Zinke says Democrats holding Interior nominees 'hostage'
Interior Secretary Ryan Zinke is complaining that Senate Democrats are holding the department's nominees "hostage" to a political agenda
7:30PM ( 4 hours ago )
AP Business
US stocks on two-day losing streak as health stocks fall
US stocks fall for second day as medical device makers take sharp losses
5:17PM ( 6 hours ago )
Tax split between House, Senate poses a big challenge
Split between House, Senate on tax poses political challenge
3:58PM ( 7 hours ago )
The Latest: Trump, world leaders coordinate shirts for photo
World leaders, including President Donald Trump and Russia's Vladimir Putin, donned matching silk button-down shirts at the Asia-Pacific Economic Cooperation summit in Vietnam
3:34PM ( 8 hours ago )
AP Business - Economy
The Latest: Producer denies 'ER' actor's molestation claim
The Latest: Director-producer denies Anthony Edwards' molestation claims
11:16PM ( 19 minutes ago )
Sri Lanka govt faces pressure over torture, rape allegations
Sri Lanka is coming under increasing pressure to answer for allegations surrounding human rights abuse
11:16PM ( 20 minutes ago )
The Latest: Pacific trade ministers to hold news conference
The Latest: Trade ministers to hold news conference on Trans-Pacific Partnership
11:10PM ( 26 minutes ago )
Trump pushes 'America first' during tough trade talk in Asia
Trump says U.S. will pursue one-on-one trade deals over larger, more sweeping agreements.
10:55PM ( 41 minutes ago )
Pacific trade deal closer but leaders won't endorse it yet
Leaders from 11 Pacific Rim countries look unlikely to formally endorse a deal to proceed with the free-trade Trans-Pacific Partnership despite overnight progress in bridging differences
10:45PM ( 50 minutes ago )