[CTC] Obama: TPP Must Pass this Year

[Arthur Stamoulis]

Washington Trade Daily
Volume 25, Numbers 92 and 93 Monday and Tuesday, May 9 and 10, 2016
Trade Reports International Group
Must Pass TPP – Obama
Congress must pass the TransPacific Partnership this year or risk seeing the United States lose
out economically to China, President Obama said Friday (WTD, 5/6/16).
 
The President acknowledged that the “politics around trade these days in both parties have
gotten a little crazy,” but he said Congress cannot allow China to write the rules for trade in the Asia
Pacific region.
 
If that happens, Beijing would “carve up some of the fastest growing markets in the world at our
expense,” the President warned in a telephone conference call with small business representatives. “Is it
going to be the United States or is it going to be our biggest competitor going forward, which is China,”
he asked.
 
Congressional leaders have suggested that if TPP comes up for a vote this year, it will be in the
post-election “lame duck” session. But the Administration is pushing for action sooner.
 
US businesses want Congress to act soon on TPP, White House spokesman Josh Earnest said
last Thursday. “So American businesses certainly don’t want to wait until the end of this year before
Congress acts on the TPP,” he told reporters. The fact that the three remaining Presidential contenders
all oppose the TPP makes it even more important that Congress act this year.
‘As Soon As We Can’
 
US Trade Representative Michael Froman on Friday also underscored the importance of moving
“as soon as we can” – and he believes support is growing on Capitol Hill. As he reviews details of the
agreement with members, the USTR told reporters he is “getting a very good response” from lawmakers
once they see how moving ahead with it will benefit their constituents and how failure to move ahead
will put their constituents in a difficult position as other countries move their own trade agreements
along.
 
USTR, meanwhile, is working on the “nuts and bolts” of preparing the implementing legislation,
writing reports required by Trade Promotion Authority and working with members of Congress and
stakeholders to resolve outstanding issues, Mr. Froman commented.
 
Texas Democrat Henry Cuellar said Friday that his district – which includes the Port of Laredo –
will see big gains from the TPP. He just returned with a Congressional delegation that visited Mexico,
and said TPP will give the United States and Mexico better access to key Asian markets.
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