From the International Business Times:
Chances have all but vanished for passage of the controversial Trans-Pacific Partnership (TPP) trade pact despite a huge last-ditch effort by US President Barack Obama and an upcoming trip to Asia to tout the deal.
The White House had been hopeful about nailing down the unprecedented trade agreement with 11 Pacific-Rim nations aimed at strengthening economic ties, cultivating trade and cutting back on tariffs.
But working-class Americans in particular are fearful that the deal will cede too many trade benefits to competitive Asian nations, and the US will continue to hemorrhage manufacturing jobs to overseas locations.
Obama plans to push the plan during a trip to Asia with his top aides in September. But that is not likely help him at home, according to the Wall Street Journal.
The deal is not only controversial in the US. There is strong opposition in a number of other nations.
Thousands of New Zealand opponents protested against the pact earlier this year over fears that the nation would lose jobs to less developed countries where labor is cheaper.