Deal reached on Pacific Rim trade pact in boost for Obama economic agenda
- 9 years ago
The United States, Japan and 10 other Pacific Rim nations reached agreement Monday on the largest free-trade accord in a generation, an ambitious effort led by the Obama administration to knit together economies across a vast region.
The deal capped more than five years of arduous negotiations on a project central to President Obama's economic agenda and potentially hands him a legacy-defining victory late in his presidency.
The deal "helps define the rules of the road for the Asian-Pacific region" for decades ahead, U.S. Trade Representative Michael B. Froman told journalists.
Though Opponents of the deal, including labor unions, environmental groups and liberal Democrats, have pledged to mount a final campaign to block the accord on Capitol Hill.
The TPP represents the largest U.S. trade pact since the North American Free Trade Agreement with Canada and Mexico in 1993.
The deal capped more than five years of arduous negotiations on a project central to President Obama's economic agenda and potentially hands him a legacy-defining victory late in his presidency.
The deal "helps define the rules of the road for the Asian-Pacific region" for decades ahead, U.S. Trade Representative Michael B. Froman told journalists.
Though Opponents of the deal, including labor unions, environmental groups and liberal Democrats, have pledged to mount a final campaign to block the accord on Capitol Hill.
The TPP represents the largest U.S. trade pact since the North American Free Trade Agreement with Canada and Mexico in 1993.