U.S WILL JOIN ASIAN FREE-TRADE AREA

SINGAPORE – Washington signaled it will resist protectionism as it copes with the economic downturn, announcing Saturday that the U.S. will join a free-trade area with other Pacific Rim nations.

• Leaders attending the annual Asia-Pacific Economic Cooperation forum in Singapore had expressed concerns that the U.S., the world's biggest economy, might turn inward as it grapples with high unemployment and other urgent domestic priorities.
• President Barack Obama, speaking in Tokyo before departing for the meetings in Singapore, announced that the U.S. would participate in the Trans-Pacific Partnership, joining Chile, New Zealand, Singapore and Brunei. The news drew loud applause at the APEC forum, and gave a boost to proposals to create a broad free-trade area spanning the 21-member forum.

Source: AP