Obama announces outline of deal on trade zone

Nov 12 2011 - 4:43pm

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HONOLULU -- President Barack Obama has announced the broad outlines of an agreement to create a transpacific trade zone. He says details must still be worked out, but expresses confidence the new free trade zone encompassing the United States and eight nations would get done.

The president, in Hawaii for the Asia-Pacific economic summit, on Saturday called the agreement a model for the Asia-Pacific region and for other trade pacts. Seated with the leaders of the eight other nations, Obama said the trade zone would increase U.S. exports and help create jobs, a top priority.

Obama called the region the fastest growing in the world.

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