At the Asia-Pacific Economic Co-operation forum in Hanoi, Vietnam this week, Susan Schwab, US trade representative, spoke with Alan Beattie, World Trade Editor of the FT. She discussed the prospects for turning the 21 economies of Apec into a Free Trade Area of the Asia-Pacific (FTAAP), current talks about bilateral trade deals in Asia; the expiration in June next year of trade promotion authority (TPA), which gives the White House the power to submit proposed trade agreements to Congress for a straight up-or-down vote; and the expected signing of a bilateral trade agreement over the weekend between the US and Russia.

The following is an edited transcript of the interview.