WASHINGTON — 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.
Republican presidential front-runner Donald Trump has longed maintained that the trade agreement is a “bad deal.” Joining critics is Democratic presidential candidate Sen. Bernie Sanders who said on Twitter that he was “disappointed” in the pact, adding that the decision will “hurt consumers and cost American jobs.”
As for Hillary Clinton, she did support the trade talks when she was secretary of state. Now, as a Democratic presidential candidate, Clinton seems to have rolled back her support on the deal.