Vested interests hamper TPP trade talks

Washington

TOKYO was ready to extend major concessions on American truck tariffs but was blocked by Mexico, which wanted less competition for its own trucks in the US market.

Canada held firm on protecting its politically sensitive dairy market ahead of elections in October, but for New Zealand, a tiny country with huge dairy exports, that was unacceptable.

And virtually all of the parties hated American protection of pharmaceutical firms, but a compromise on that issue could cost the support of Republicans in Congress.

For US President Barack Obama, nailing down the largest regional trade accord in history would be a legacy-making achievement, proof that his foreign policy "pivot" to Asia was more than rhetorical - as wel…