TPP Trade Negotiations Extended Yet Again
http://readersupportednews.org/news-section2/318-66/32742-tpp-trade-negotiations-extended-yet-again
The meeting was originally scheduled to end on Thursday, however the talks were extended due to differences over trade tariffs, drug patents, market access and intellectual property rights.
The TPP negotiations, first launched in 2008, include nations representing 36 percent of global gross domestic product and 25 percent of all international trade.
The controversial trade deal, which includes the participation of three Latin American countries -- Mexico, Chile, and Peru, have all expressed concerns over a clause that would extend patent periods for medicines for eight years, which they argue is unacceptable.
Critics argue that the extension on monopoly drug patents would allow pharmaceutical companies to raise prices for life-saving medicines and even allow monopoly rights over surgical procedures.
The United States is currently advocating for an eight year extension of drug patents, after earlier demanding a 12 year extension.