Obama touts TPP as full text released

It brings together the United States, Japan, Australia, Canada, Mexico and seven other countries on the borders of the Pacific, but not China, the world’s second-largest economy and one seen as less committed to lowering barriers on cross-border movement of goods and capital.

“The agreement would threaten American laws that protect the safety of the drugs we take, the seafood we feed our families and the toys our kids play with every day”.

The reaction confirmed that in this final fight, Obama will have to rely on the Republicans who control Congress if he is to sell the legacy-making agreement in the months before the House and Senate vote next spring.

On Thursday, US President Barack Obama formally notified Congress of his intent to sign the landmark trade deal, but he must gather support in Washington to ensure the deal can be formally approved.

On October 5, the 12 countries of the Pacific Rim region reached an agreement on the wording and subject matter of the TPP free trade deal, which is meant to deregulate trade among the signatory countries.

“With the agreement likely to be assessed by committee in the coming weeks, wading through its 599 pages of legal wording to find out exactly what is being traded away will be a crucial task that should be done expertly and transparently”, she concluded.

“With that elimination or reduction of tariffs, our products are going to be much more valuable to other countries importing corn and soybeans”, explained Patrick Kirchhofer, manager of the Peoria County Farm Bureau. That will boost Made-in-America exports overseas while supporting higher-paying jobs right here at home.

The deal can take effect after ratification by each country. Only Congress can enact the trade agreement, and for that to happen, the agreement must meet the requirements laid out in bipartisan Trade Promotion Authority (TPA).

On Thursday morning, Obama praised the impending deal on the online publishing platform Medium, saying it will specifically help Detroit’s automakers and their employees, potentially opening Japan’s auto market to more US competition and reducing global tariffs. South Korea hasn’t participated in the negotiations, although policymakers have said it plans to do so down the line.

“We’re glad to have the text of the agreement available, and we expect that to ease concerns people might have about the TPP”, CFBF President Paul Wenger said. Cane growers can sell a little bit more to the US, under the TPP, but the additional 65,000 tonnes secured is nowhere near what they were pleading with the Government to get.