Economics
Tech, Banking, Farming Are U.S. Winners in Asia Trade Deal
- U.S. releases text of Trans-Pacific Partnership accord
- Clock starts ticking to win over Congress, trade skeptics
A worker walks past a truck full of harvested peppers on the Uesugi Farm in Byron, California, on July 16, 2015.
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U.S. technology companies, banks and farmers are among the biggest beneficiaries of falling tariffs that are part of the trade deal designed to liberate commerce among 12 Pacific Rim nations, according to a text of the agreement released Thursday.
The Trans-Pacific Partnership, which will affect almost 40 percent of the global economy, maintains protection for a handful of politically sensitive U.S. industries by keeping existing tariffs in place for as long as 30 years for pickup trucks and 13 years for some types of footwear.