TPP Deal Signed in New Zealand

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The controversial Trans Pacific Partnership (TPP) deal has been formally signed in Auckland, New Zealand, despite concerns over the agreement’s transparency and potential to increase income inequality.

The US-led initiative was agreed to in October and includes 12 countries across the Pacific Rim, including Singapore, Mexico, Malaysia, Japan, Canada, New Zealand, Brunei, Chile, Australia, Peru, Vietnam, and the US.

"Today, these countries signed the Trans-Pacific Partnership — a new type of trade deal that puts American workers first," President Barack Obama said in a statement.

The deal still must be ratified by individual governments of the signing countries, as well as the US Congress, and with less than one year left in his term, President Obama is struggling to convince legislators to vote in favor of the hotly-debated pact.

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