Daily Management Review

Obama: the US, not China, should be a global trade leader


05/03/2016


The US president urged Congress to push on with the approval of the Trans-Pacific Partnership Agreement.



pixabay.com
pixabay.com
United States President Barack Obama said that only the United States and partners should set the rules of global trade. For this reason, Obama is calling on Congress to hurry up with the approval of the Trans-Pacific Partnership Agreement (TPP). The Agreement establishes a Free Trade Area in the Asia-Pacific region.

The US president outlined the benefits of the Trans-Pacific Partnership Agreement. Obama said the agreement will strengthen US national security, make the economy stronger, and decrease the number of poor people. In the end, Obama concluded, "America will become stronger and enhance its security", reports Washington Post.

Obama pointed to China as the main opponent of the US trade. He also urged Congress not to delay approval of the TPP agreement, as China is going to organize a Regional Comprehensive Economic Partnership. This creates a trading competition that worries the United States. Obama said, "it may divide some of the markets to the detriment of the United States, which would jeopardize American jobs, business and products."

Earlier, media have published secret documents on the Transatlantic Trade and Investment Partnership agreement. 

According to the report, the United States are putting a great pressure on the EU in the negotiations, write German media.

"Washington has threatened to cut car imports from the EU, if the union refuses to buy more US products", - reports Süddeutsche Zeitung.

The article reported that at the same time, the United States criticized the European consumer market policies and demanded to cancel one of the EU’s main trade principles. According to the latter, foods can be allowed for sale only if proven that they are not harmful to health and the environment.

Prior to the publication of these documents, both sides had openly declared that the United States respect the concerns of Europeans, but now the picture is quite different – wrote the newspaper.

In turn, the German authorities refused to comment on the situation with the publication and verify authenticity of the documents.

Transatlantic Trade and Investment Partnership is a large-scale and very ambitious project of a formal association of the largest trade partners in the world. 

Already, the European Union and the United States are the crucial external economic partners for each other. If they managed to create a kind of economic bloc, they would certainly get a chance to dominate the world in some respect.

In the long term, the idea of the Transatlantic Trade and Investment Partnership is, in fact, the creation of a common market in the field of trade and investment between the EU and the US.

source: washingtonpost.com






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