The Trans-Pacific Partnership and normalizing trade relations with Cuba are two accomplishments that President Obama said he wants to reach their final conclusion.
President Obama urged Congress during his final State of the Union message last night to ratify the Trans-Pacific Partnership free trade agreement and lift the trade embargo on Cuba, saying both policies would enhance American leadership in Asia and the Latin America.
Obama used the speech to defend his economic and foreign policy decisions, saying the United States has the strongest economy in the world in part because of actions his administration took to rescue the auto industry and stabilize the financial system in the wake of the great recession.
He said the ability to partner with other nations and build global coalitions to address problems is as much a sign of U.S. strength as its military power.
According to Obama, the TPP “cuts 18,000 taxes on products Made in America, and supports more good jobs.”
“With TPP, China doesn’t set the rules in that region, we do,” he said.
He also said that restoring diplomatic relations with Cuba is the right thing to do after 50 of isolation have done little to promote democracy in the Communist nation.
“Recognize that the Cold War is over. Lift the embargo,” Obama told lawmakers assembled in the Capitol building.
The president acknowledged that Americans might not feel as wealthy as they would like despite the economic recovery, saying the slow progress is due to forces such as globalization, that result in competition for jobs with people in low-wage countries, and the proliferation of technology.
Business groups continued to voice strong support for TPP and the opening to Cuba, which could lead to export opportunities. The TPP would give U.S. companies much easier access to 11 Pacific Rim countries, including Japan.
“This landmark agreement will enhance American competitiveness, support U.S. jobs, eliminate thousands of tariffs and expand the rule of law in the Asia-Pacific region,” Peter Robinson, president of the U.S. Council for International Business, said in a statement. Good governance, transparency and establishing American commercial values in the region are important benefits for the United States, he added.
Political observers say Obama faces a difficult battle to win approval for TPP in Congress this year. A statement issued by Rep. Peter DeFazio, a Democrat from Oregon, illustrated the political challenge to TPP.
“If we truly want economic security and opportunities for all, we need to prioritize the needs of the American people over those of massive corporations,” the congressman said, calling TPP “a dangerous agreement that would export jobs, drive down wages, and devastate American manufacturing.”
Failed trade policies have hurt Oregon’s manufacturing sector, said DeFazio.
Obama highlights trade opportunities in State of Union
