Obama: TPP Is the ‘Most Progressive, Highest-Standard Trade Agreement’

“Now, I’m happy to make the case once again for the trade agreement itself. And I hope, Carol, you take the time to read it because what you’ll see is, is that it meets the promise that I made -- the most progressive, highest-standard trade agreement that we have ever put forward that deals with chronic problems like child labor or forced labor, and is enforceable; that makes sure we are upping our game in the Asia Pacific region on the environment, and is enforceable; that protects intellectual property that is the wellspring of innovation here in the United States; that makes sure that our businesses are treated fairly when they invest in other countries; that opens up markets.

“Keep in mind, we have some of the lowest tariffs in the world already. So we’re already seeing goods and services being sold by other countries here, and the countries that are part of TPP have significantly higher tariffs. For us to be able to get those lowered -- just the example of Japan, where they slap on 10, 20, 30, 40 percent taxes on some of our goods and services -- for those to come down and, in the case of U.S. manufacturing goods, those tariffs being eliminated completely -- that’s a big deal.

“So I’m sure we’ll continue this debate as we post the actual terms of the agreement and Congress has a chance to review it. I’m pretty confident I’ll be able to persuade a whole lot of people, once they see the outlines of the deal, that it’s the right thing to do.”