Trans-Pacific Partnership Deal Reached

The U.S. and 11 other Pacific Rim nations on Monday reached a sweeping trade agreement, which lowers barriers to goods and services and sets standards for 40 percent of the world’s economy. The Trans-Pacific Partnership, which is considered the largest regional trade accord in history, is the result of nearly eight years of negotiations and all-night talks in Atlanta over the last five days. The accord would phase out more than 18,000 import tariffs, establish commercial rules on corporations’ intellectual property, and curb wildlife trafficking and environmental abuses. The controversial pact must still win approval from a deeply divided Congress, which poses the biggest challenge.