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Sun May 21, 2017, 07:59 AM

U.S. and Pacific Rim countries at odds in heated trade meeting

Source: Reuters

Japan and other members of the Trans-Pacific Partnership agreed on Sunday to pursue their trade deal without the United States, as the Trump administration's “America First” policy created tension at a meeting of Asia-Pacific countries.

Turmoil over global trade negotiations was laid bare at a meeting of the Asia-Pacific Economic Cooperation (APEC) forum, which failed to agree on its usual joint statement after U.S. opposition to wording on free trade and fighting protectionism.

The meeting in Hanoi, Vietnam, was the biggest global trade gathering since U.S. President Donald Trump upended the old order, arguing that multilateral free-trade agreements were costing American jobs and that he wanted to cut new deals.

On the sidelines of the Asia-Pacific meeting, the 11 remaining countries of the TPP agreed to explore how they could move ahead without erstwhile leader the United States - partly in the hope that Washington would reconsider leaving.

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Read more: http://www.reuters.com/article/us-apec-vietnam-idUSKCN18H02B

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