Obama seeks to convince Asian partners that Washington will approve TPP

Image
Reuters HANGZHOU, China
Last Updated : Sep 05 2016 | 8:42 PM IST

HANGZHOU, China (Reuters) - U.S. President Barack Obama said on Monday that U.S. trading partners in Asia did not need to be persuaded of the benefits of the Trans-Pacific Partnership, just that Washington would eventually approve the trade pact.

Obama has made the 12-nation TPP the centrepiece of a diplomatic "pivot" to Asia, but the prospects for U.S. congressional approval have looked increasingly dim, with both major presidential candidates - Democrat Hillary Clinton and Republican Donald Trump - standing opposed.

Administration officials had said that Obama would make the case for the TPP during his visit to Asia, including in a speech he has scheduled in Laos on Tuesday.

"I don't have to sell it to Asian leaders here who were part of the negotiations because they see this as the right thing to do for their own countries," Obama told reporters at the close of the G20 summit in the eastern Chinese city of Hangzhou.

"And what I'll be telling them is that the U.S. has never had a smooth, uncontroversial path to ratifying trade deals, but they eventually get done," Obama said.

"Back home we'll have to cut through the noise once election season is over. It's always a little noisy there," he said.

The White House has said it could still win congressional approval of the trade pact before Obama leaves office, and warned that failing to do so would undermine U.S. leadership in the region and allow China to increasingly set the terms of world trade.

(Reporting by Michael Martina, Roberta Rampton and Elias Glenn; Editing by Richard Balmforth)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 05 2016 | 8:29 PM IST

Next Story