Trans-Pacific Partnership: Obama tries to save agreement
The Trans-Pacific Partnership (TPP) free trade agreement has been heavily criticised by both Donald Trump and Hillary Clinton, but US President Obama has again rallied behind the deal, trying to counter the arguments of the two presidential candidates.
"I think I have a better argument. And I have already expressed it in the past. Let me say it again: we are part of a globalised economy. And we cannot reverse this," lashed out Barack Obama in the course of a press conference at the White House. The President once again portrayed the agreement as a weapon against Chinese steamroller policies, since Beijing is excluded from the deal.
The trans-Atlantic trade agreement with the EU seems entangled in a series of diplomatic knots, but the TPP was signed last February by 12 countries, at the end of 5 years of negotiations. While Donald Trump has a long history of opposing the deal, Hillary Clinton surprised everyone last week by stating she would not ratify the text should she become president.
"No agreement is perfect, and this is certainly the case with the TPP," explained last February Jeff Price, Director of the National Council of Textile Organisations (NCTO). "As American manufacturers, we have had to reach tough compromises during the negotiations, as is the case in any complicated process. However, the agreement is solid in terms of the crucial elements regulating textile trade."
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