“Progress” but no deal at TPP meeting

Negotiators from 12 Pacific nations have finished a week of talks without agreement on a regional trade deal. Trade ministers from the 12 nations negotiating the Trans-Pacific Partnership, which would stretch from Japan to Chile and cover 40 percent of the world economy, fell just short of a deal at talks on the Hawaiian island of Maui but were confident an agreement was within reach. New Zealand has said it will not agree to a deal unless it significantly opens up diary markets. Among the sticking points were issues relating to the automobile sector and access to dairy markets.  No date has been set for the next round of talks. Japan and the United States had largely agreed on the rules of origin for cars, which determine when a product is designated as coming from within the free trade zone and therefore not subject to duties.