Ten months after President Donald Trump abandoned what was pegged as the world's biggest trade deal, its surviving participants may be close to a new agreement.
Details of a new Trans-Pacific Partnership treaty could emerge next month at an Asia-Pacific Economic Cooperation, or APEC, meeting — the agreed upon deadline by the accord's remaining participants.
There's "a reasonable chance" that leaders will actually sign a piece of paper in November or say they will sign one, Alan Bollard, executive director at the APEC Secretariat, told CNBC on Tuesday.
For months, the eleven members, known as TPP-11, have held talks on how to keep their vision of a free-trade bloc alive without the United States. But tensions between countries have stalled progress — Vietnam and Malaysia, in particular, have voiced concerns now that broad access to U.S. markets is off the table.