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 on Monday.

A long process to ease trading between the U.S. and 11 Pacific Rim nations is closer to being finalized as negotiators cleared hurdles on how to handle everything from cars to dairy products.

The US and 11 nations have agreed to the largest regional trade accord in a generation, one which could reshape industries and set standards for two-fifths of the world's economy.

A recent draft of the Trans-Pacific Partnership free-trade deal would give U.S. pharmaceutical firms unprecedented protections against competition from cheaper generic drugs, possibly transcending the patent protections in U.S. law.

President Obama opened an intense final round of lobbying to win support for his sweeping Pacific Rim trade deal ahead of a crucial vote in the House next week, expressing confidence he will overcome deepening skepticism among fellow Democrats.

The president granted a round of interviews to television stations in Texas, California and Washington state late Wednesday in a bid to provide political cover to wavering lawmakers in states that are heavily reliant on foreign trade.

Republicans and pro-trade Democrats have regrouped after Sen. Harry Reid was able to cobble enough votes to block fast-track authority on the Trans-Pacific Partnership from moving forward yesterday. Sen. McConnell altered the bill, allowing Democrats to vote on a provision aimed at combating currency manipulation as a separate bill

The White House named names. And not 24 hours later President Barack Obama and his aides had a deal to get fast-track back on track.

You can call it misleading or offering half-truths, but when push comes to a shove, these are lies.

Critics of the Trans-Pacific Partnership trade deal, and the Senate bill to give the president fast track authority to negotiate it, say it will hurt American workers.

House Speaker John Boehner (R-Ohio) said Thursday that President Barack Obama “needs to step up his game” to rally more Democrats behind legislation that would give him fast-track authority on trade deals.

Boehner told reporters that “there will be strong Republican support for trade promotion authority.”

The bill, which would allow Obama to use expedited procedures to push the Trans-Pacific Partnership through Congress, has a majority of Republicans backing it in the House, but lacks the votes needed for passage.