Obama faces political and economic oppn to TPP in US

US President Barack Obama faces a growing political opposition including those from his party colleagues, trade and labour unions and businesses on what he described as a “historic” 12-nation Trans-Pacific Partnership (TPP) trade deal that links 40 <g data-gr-id="18">per cent</g> of the global economy.

“What I have seen so far, the TPP agreement will benefit Wall Street banks and multinational corporations on the backs of hard-working Americans, and it will increase existing threats to our environment,” Obama’s colleague Congresswoman Tulsi Gabbard said in a statement expressing her opposition.

“This deal, which will affect 40 <g data-gr-id="17">per cent</g> of our global economy, will be even more unenforceable and more disastrous for American jobs and our economy than NAFTA has already proven to be,” she said.

“We are disappointed that our negotiators rushed to conclude the TPP in Atlanta, given all the concerns that have been raised by American stakeholders and members of Congress,” said AFL-CIO President Richard Trumka.

He urged the Obama Administration to immediately release the <g data-gr-id="20">text,</g> and asked legislators to exercise great caution in evaluating the TPP.

In a statement, Coalition for a Prosperous America said there is nothing novel about this TPP agreement. It does not embrace the principles that livestock producers, manufacturers and workers have suggested.