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Wednesday, February 24, 2016, Falgun 12, 1422 BS, Jamadiul Awwal 13, 1437 Hijri

Obama optimistic Congress will pass TPP trade deal
Published :Wednesday, 24 February, 2016,  Time : 12:00 AM  View Count : 21

WASHINGTON, Feb 23: US President Barack Obama said Monday he is "cautiously optimistic" that Congress will pass the Trans Pacific Partnership free trade agreement between the US and Asian countries.
The approval will hinge on support from "strong pro-trade Democrats" and Republicans "who historically, at least, have been in favor of the free market," Obama said at a meeting of American governors at the White House. "I am cautiously optimistic that we can still get it done," he said.
Once the trade deal is in place, "American companies and American workers will be better off than the existing trade regime that we have right now," Obama said.
The ambitious Trans Pacific Partnership (TPP) would slash tariffs and trade barriers for an enormous 40 per cent of the global economy and establish the largest free trade area in the world.
Its aim, in part, is to wrest influence from a booming China. The deal must now be ratified by the 12 participating countries and the United States, where the Congress is deeply divided.    ?AFP

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