A meeting of trade ministers in Honolulu, Hawaii, over July 28 to 31, failed to reach final agreement on the Trans-Pacific Partnership (TPP) free trade deal.
The TPP is a free trade deal being negotiated by countries on the Pacific rim: the US, Australia, Singapore, New Zealand, Chile, Brunei, Canada, Malaysia, Mexico, Peru, Vietnam and Japan. These countries represent about 40% of global GDP.
Key stumbling blocks were over protectionist policies. The US, Mexico and Japan could not find agreement over cars, and the US and Japan disagreed on dairy.