Japan and the United States are likely to resolve outstanding bilateral issues so that a 12-nation Trans-Pacific Partnership (TPP) deal can be struck at a multilateral ministerial meeting expected in July, a senior Japanese official said on Friday. A deal between the United States and Japan, the world’s largest and third-largest economies, is vital to clinching the multilateral TPP pact, which would cover 40 percent of the world economy. The deal is a key part of U.S. President Barack Obama’s strategic rebalance to Asia in the face of a rising China.