Obama welcomes agreement on Trans Pacific trade deal

AP News
|
Posted: Oct 05, 2015 9:40 AM

WASHINGTON (AP) — President Barack Obama is heralding an agreement on an ambitious Pacific Rim trade pact that he says "reflects America's values" and gives U.S. workers a fair shot at success.

Obama's statement comes shortly after the U.S. and 11 other nations finalized a deal that cuts trade barriers, sets labor and environmental standards and protects multinational corporations' intellectual property.

The president says the agreement levels the playing field for U.S. farmers, ranchers and manufacturers. He says it strengthens U.S. with a vital region, while keeping countries such as China from writing "the rules of the global economy."

Congress will have 90 days to review the agreement before voting on it. Obama says he looks forward to working with lawmakers from both parties as they consider the pact.