TPP nations 'have made good progress' on deal, no-show 'a misunderstanding'

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Canada's Prime Minister Justin Trudeau has been reported as saying his country is in no rush to conclude the talks.

However, Canada's Trade Minister dismissed the reports as a "misunderstanding", and said Canada took the time it needed to push for stronger protections related to the environment and labour.

Trade and Export Growth Minister David Parker said that on Thursday night it had appeared all Canada's issues had been resolved to its satisfaction. Adding to the confusion, she said she was under the impression Canada had withdrawn from negotiations.

Abe returned to the room saying Trudeau was not attending and so the meeting was abandoned by the other countries, Australia, New Zealand, Singapore, Brunei, Malaysia, Chile, Peru, Mexico and Vietnam.

Canada's resistance to the new TPP does not come out entirely of the blue.

Moving ahead with TPP would be a boost for the principle of multilateral trade agreements after U.S. President Donald Trump ditched it this year in favor of an "America First" policy that he reiterated at an Asia-Pacific summit in Vietnam.

APEC, whose leaders hold their full summit on Saturday, has itself been buffeted by the changes under Trump.

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Earlier this week, Trudeau said wasn't going to be pressured into committing to an agreement "at all costs" and that it would have to address the best interests of Canadians.

Discussions would not continue without Canada, she said.

It's understood Canada, the second largest economy in the TPP since the United States withdrew, had been in bilateral talks with Japan on role difference before Trudeau's no show at the meeting.

Reuters is reporting this morning that the 11 nations working on the new version of the Trans Pacific Partnership (TPP) trade pact have agreed to the core elements of a deal but more work needs to be done.

International Trade Minister Francois-Philippe Champagne quickly disputed it.

She could not say whether the postponement was for days or weeks or longer and could not say which part of the pact Canada had issues with.

"This is already a very, very fast process considering how complicated the agreement is and the fundamental change with the USA withdrawing makes to the geometry of that agreement".

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