Details of the secret deal will be released
Officials will hold a news conference later today in Atlanta to announce the Trans-Pacific Partnership. It's a tariff-lowering and trade barrier-lowering deal among the United States, Japan, Canada, Australia, Vietnam, Peru, Malaysia, Brunai, New Zealand, Singapore, Mexico and Chile.
It's been negotiated in secret for the past 5 years and the details will finally be released today.
The WSJ reports that it opens agricultural markets in Japan and Canada while tightening intellectual property rules to benefit drug and technology companies. That's likely speculation based on some of the leaks that have emerged.
New Zealand looks like it could be a winner. The WSJ says it persuaded the US to allow more of its dairy exports.
There was talk of punitive measures for currency manipulation but reports say that never came to fruition.
Don't expect any knee-jerk reaction as the details emerge but deal sets out the rulebook for trade among some of the world's largest economies and the winners and losers will be those who can adapt to the new game.
National governments will have a year to ratify the agreement so there is a chance it never comes to fruition.
