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Ministers miss 2013 deadline for US-led trade pact

Singapore Trade Minister Lim Hng Kiang (left) speaks as US trade representative Michael Froman listens during the Trans-Pacific Partnership Ministerial Meeting in Singapore on December 7, 2013Talks on forming a huge US-led Pacific free trade area will resume next month after the 12 prospective members Tuesday gave up on meeting Washington's year-end deadline for a deal. US Trade Representative Michael Froman and his counterparts said they made "substantial progress" after four days of talks in Singapore on the proposed Trans-Pacific Partnership (TPP) but failed to resolve all issues.