Sunday, November 19, 2017

The Latest: Formal Pacific trade deal minus US to take time

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DANANG, Vietnam (AP) — The Latest on the summit of 21 Pacific Rim economies in Vietnam (all times local):9:00

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.

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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.

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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.

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