Deal reached on Pacific Rim trade pact in boost for Obama economic agenda


(Worthy News) – President Obama hailed the historic 12-nation Pacific Rim trade deal completed here Monday as an accord that “reflects America’s values,” but within hours the administration had turned from the negotiating table to selling the agreement on Capitol Hill, a reflection of the harsh political climate the controversial pact is expected to face in Congress.

Obama pledged that the ­Trans-Pacific Partnership (TPP), the largest free-trade agreement in a generation, would open new markets for U.S. goods and services and establish rules of international commerce that give “our workers the fair shot at success they deserve.”

But almost immediately there were signs of the tough fight ahead to win final ratification from Congress next year. Lawmakers from both parties criticized the pact as falling short in crucial areas, raising the prospect that the White House could lose the support of allies who had backed the president’s trade push earlier this year. [ Source ]

Historic Pacific trade deal faces skeptics in U.S. Congress

Twelve Pacific Rim countries on Monday reached the most ambitious trade pact in a generation, aiming to liberalize commerce in 40 percent of the world’s economy in a deal that faces skepticism from U.S. lawmakers.

The Trans-Pacific Partnership (TPP) pact struck in Atlanta after marathon talks could reshape industries, change the cost of products from cheese to cancer treatments and have repercussions for drug companies and automakers.

If approved, the pact would cut trade barriers and set common standards from Vietnam to Canada. It would also furnish a legacy-shaping victory for U.S. President Barack Obama, who will promote the agreement on Tuesday in remarks to business leaders in Washington. [ Source ]

We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News