US not 'bullying' Malaysia over trade pact: Obama

President Barack Obama today denied that America was 'bullying' Malaysia in the ongoing negotiations for a US-led free trade initiative involving 12 Pacific rim economies.

Instead, he said, he himself was being bullied by his own (Democratic) party on the Trans-Pacific Partnership Agreement (TPPA) while protests against the agreement was more due to "people being fearful of the future or have invested in the status quo".

"It is important for everybody to wait and see what is the (final) agreement before they jump to conclusions," he said at a press conference here in response to a question.

In looking ahead towards a conclusion of the TPPA negotiations, he said that "countries and companies must be ready to take the next leap".

The negotiation for TPPA - a free trade initiative - involves Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.

Obama said the TPPA would benefit Malaysia in achieving high-income nation status by 2020.

Malaysian Prime Minister Najib Razak, in earlier comments at the joint press conference, expressed confidence that the overall benefits of the TPPA would far outweigh the disadvantages of the pact, which is still being negotiated by 12 Pacific rim economies although there would be some losers and gainers.

Najib, who is also the Finance Minister, said Malaysia was committed to the process of getting the acceptance of people as far as the TPPA was concerned.

He also said the US understands Malaysia's domestic sensitivities as evident during his bilateral talks with Obama earlier.