TPP Ministerial Negotiations Fail, with No Date Set for the Next Round [View all]

[marmar]

By Lambert Strether of Corrente.


Sadly, or not, the TPP sausage made in Maui proved unpalatable to many trade ministers; not merely the casing, but the filling. Here’s the “Joint Statement by TPP Ministers” emitted by the United States Trade Representative. I’ll quote most of it so you can savor it:

We, the trade ministers of Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United States, and Vietnam announce that, after more than a week of productive meetings, we have made significant progress and will continue work on resolving a limited number of remaining issues, paving the way for the conclusion of the Trans-Pacific Partnership negotiations.

Ministers and negotiators leave Hawaii committed to build on the momentum of this meeting by staying in close contact as negotiators continue their intensive engagement to find common ground. Negotiators will also continue to work to formalize the achievements that have been made this week.

In this last stage of negotiations, we are more confident than ever that TPP is within reach and will support jobs and economic growth.

The flaccidity of the language — “more than a week of,” as opposed to X days, “productive meetings,” as if there were ever any other kind, “paving the way,” “intensive engagement,” “within reach” — is remarkable even by American standards, and matched only by the superb irony of “committed to build on the momentum of this meeting.” What momentum?

Crucially, note that the text isn’t even agreed at staff level! (“continue to work to formalize”). And as Inside Trade tartly notes, the ministers “ended a four-day meeting without even an agreement in principle.”

How did the TPP fail in Maui? And why? And what next? ...................(more)

http://www.nakedcapitalism.com/2015/08/winning-in-maui-tpp-ministerial-negotiations-fail-with-no-date-set-for-the-next-round.html