Australian Prime Minister Tony Abbott and Japanese Prime Minister Shinzo Abe have signed a major free trade deal way ahead of schedule, while President Barack Obama's efforts to sign a Trade Treaty with Japan have stalled.

According to Reuters, "Japan and Australia clinched a basic trade deal on Monday to cut import tariffs, as U.S. and Japanese officials stepped up efforts to reach a parallel agreement that would re-energise stalled talks on a broader regional pact."

Obama and the GOP Establishment are promoting the TransPacific Partnership agreement that would grant US-based corporations the right to sue sovereign countries over environmental protection regulations.

As reported by Reuters, "The agreement between Japan and Australia comes as the United States and Japan push for their own two-way trade deal - a key component of a broader U.S.-led Trans-Pacific Partnership (TPP) pact - before a visit this month by President Barack Obama."

The TPP would also wipe out drug manufacturers based in Asian countries, due to strict enforcement of global copyright measures.