In the landmark Asia-Pacific free trade deal reached among the United States and 11 other nations, U.S. automakers won a lengthy delay of the phaseout of tariffs that protect domestic truck production.The agreement makes it easier for Detroit’s Big Three to export vehicles to Japan. But it doesn’t include rules, which the automakers have long sought, against currency manipulation that makes their vehicles too pricey for many foreign buyers.
The Trans-Pacific Partnership was unveiled Monday among the United States, Japan, Canada, Mexico and eight other nations. Eight years of negotiations came to a close after nearly a week of talks resolved final disputes over dairy products, pharmaceutical drugs and automobile export rules. The deal encompasses 40 percent of the world’s economy and a third of all global trade.
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