October 5, 2015
“I’ve spent every day of my presidency fighting to grow our economy and strengthen our middle class. That means making sure our workers have a fair shot to get ahead here at home, and a fair chance to compete around the world. My approach to trade has been guided by a unifying principle: leveling the playing field for American workers and businesses, so we can export more products stamped Made in America all over the world that support higher-paying American jobs here at home.
Over the summer, Democrats and Republicans in Congress came together to help the United States negotiate agreements for free and fair trade that would support our workers, our businesses, and our economy as a whole. When more than 95 percent of our potential customers live outside our borders, we can’t let countries like China write the rules of the global economy.We should write those rules, opening new markets to American products while setting high standards for protecting workers and preserving our environment.
That’s what the agreement reached today in Atlanta will do. Trade ministers from the 12 nations that make up the Trans-Pacific Partnership finished negotiations on an agreement that reflects America’s values and gives our workers the fair shot at success they deserve.
This partnership levels the playing field for our farmers, ranchers, and manufacturers by eliminating more than 18,000 taxes that various countries put on our products. It includes the strongest commitments on labor and the environment of any trade agreement in history, and those commitments are enforceable, unlike in past agreements. It promotes a free and open Internet. It strengthens our strategic relationships with our partners and allies in a region that will be vital to the 21st century. It’s an agreement that puts American workers first and will help middle-class families get ahead.
Once negotiators have finalized the text of this partnership, Congress and the American people will have months to read every word before I sign it. I look forward to working with lawmakers from both parties as they consider this agreement. If we can get this agreement to my desk, then we can help our businesses sell more Made in America goods and services around the world, and we can help more American workers compete and win.”
Congratulations to all the 11 nations in Asia Pacific that are on the verge of looking after the Americans’ interests and well being. They are Japan, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Thank you for the job well done.
Read more here, on how the TPPA will help Americans to “rewrite the rules of trade to benefit America’s middle class.” Because if they don’t, “competitors who don’t share our values, like China, will step in to fill that void.”
Question to the leaders of the Asia Pacific countries who will sign the TPPA: If the American strategy of the TPPA is to protect the American big corporations’ products domestically and to push it into other foreign countries ubiquitously, how will the TPPA help the products from those foreign countries to enter the local American market?
The Trans-Pacific Partnership
What You Need to Know about President Obama’s Trade Agreement
Writing the Rules To Support American Jobs
America’s trade policy may seem remote and technical, but it has a significant impact on the strength of our economy and the lives of millions of Americans. If the businesses you buy from everyday also sell their products to customers abroad, they are more likely to expand and support jobs here at home.
Why is that? Ninety-five percent of the world’s consumers live outside our borders. Our Made-in-America products and services are in demand, making American exports a vital pillar of our 21st century economy. In fact, exports played an indispensable role in America’s resurgence from the Great Recession. So, when the rules are fair, Americans can out-compete anyone in the world.
Last year, we broke the record in American exports for the fifth year in a row, selling $2.34 trillion in goods and services abroad. And here’s why that’s important: The more we sell abroad, the more higher-paying jobs we support here at home.
And those jobs tend to pay Americans better, meaning companies that export pay up to 18% more than companies that don’t.
But right now, our current trade policy — the status quo — puts our workers and businesses at a disadvantage, with higher costs for American goods, more barriers to trade, and lower standards for workers and the environment abroad than we have at home.
That is why President Obama has concluded negotiating the Trans-Pacific Partnership and will now work with Congress to secure its passage into law. The TPP is a trade agreement with 11 countries in the Asia-Pacific, including Canada and Mexico that will eliminate over 18,000 taxes various countries put on Made-in-America products.
With the TPP, we can rewrite the rules of trade to benefit America’s middle class. Because if we don’t, competitors who don’t share our values, like China, will step in to fill that void.
That is why the President’s trade policy is the best tool we have to ensure that our workers, our businesses, and our values are shaping globalization and the 21st century economy, rather than getting left behind.
Good luck, rest of the world.
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