Obama Tries to Calm TPP Concerns in Nike Speech

Excerpt from: International Trade Today | May 11 2015

{Photo Source: Depositphotos.com/oranhall}

President Barack Obama again praised progress in Trans-Pacific Partnership negotiations in a speech at Nike headquarters in Beaverton, Ore. on May 8, saying the pact would boost U.S. manufacturing and break down barriers for U.S. exports (here). Democratic critics have ramped up criticism of the Obama administration’s trade plans as Trade Promotion Authority and the other three trade bills move through the legislative progress. Activists outside Nike headquarters held an anti-TPP rally (here).

Obama countered that the lack of currency rules in TPP talks shouldn’t jeopardize the whole agreement. Administration officials will continue to diplomatically pressure foreign governments to avoid currency manipulation, said Obama. He also hit back at critics who say TPP could threaten U.S. regulations, an argument often invoked among concerns over investor-state dispute settlement. “They’re making this stuff up,” he said. “This is just not true.”