The TPP would give Japan's automakers, led by Toyota, a freer hand to buy parts from Asia for vehicles sold in the U.S. Photo credit: BLOOMBERG ATLANTA -- Pacific trade ministers have reached a deal on the most sweeping trade liberalization pact in a generation that will cut trade barriers and set common standards for 12 countries, an official familiar with the talks said today. Leaders from a dozen Pacific Rim nations are poised to announce the pact later today.