What is the future of the Trans-Pacific Partnership?

An article from the Politico titled “Historic trade pact could be undone by…cheese?” (http://www.politico.com/story/2015/07/trans-pacific-partnership-trade-pact-challenges-120600) review some of the challenges that the Trans-Pacific Partnership is currently facing. It outlines nine of the current main issues that are delaying the adoption of the Partnership. These nine items are autos, currency, dairy, geographic indications, labor and environment, pharmaceuticals, rice, sugar, and tobacco. Additionally, it cites some of the specific struggles within these nine items; “Canada wants to protect its dairy and poultry producers and Japan, its rice farmers. American drug companies want other countries to adopt strong U.S. protections on a blockbuster new class of medicines called biologics, and U.S. automakers oppose giving Japan more market access”. How will these issues be resolved? What will the impact be on the markets within, and outside, the Trans-Pacific Partnership if a deal is reached?

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