Vietnam rejects US push on state firms in trade talks

Oct 28 (Reuters) – Vietnam on Friday rejected a U.S. proposal to establish new trade rules for state-owned companies, which Washington says often benefit from unfair subsidies and protections.

The United States floated its plan in negotiations this week on the nine-country Trans-Pacific Partnership, or TPP, a free-trade zone that would stretch across much of the Pacific Rim.

Despite the disagreement, President Barack Obama and leaders of the eight other TPP countries are expected to announce next month in Hawaii they are committed to finishing the talks and have the “broad outlines” of a final deal. It could take as much as another year to conclude the ambitious negotiations.

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