Free Republic

Pacific trade ministers have reached a deal on the most sweeping trade liberalization pact in a generation that will cut trade barriers and set common standards for 12 countries, an official familiar with the talks said on Monday. Leaders from a dozen Pacific Rim nations are poised to announce the pact later on Monday. The deal could reshape industries and influence everything from the price of cheese to the cost of cancer treatments. The Trans-Pacific Partnership would affect 40 percent of the world economy and would stand as a legacy-defining achievement for U.S. President Barack Obama, if it is ratified...