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Obama promotes Pacific trade pact in weekly address

Saturday, October 10, 2015 - 01:15

U.S. President Barack Obama uses his weekly address to tout the benefits of the Trans-Pacific Partnership (TPP) trade deal. Rough cut (no reporter narration)

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ROUGH CUT (NO REPORTER NARRATION) Story: U.S. President Barack Obama used his weekly address on Saturday (October 10) to extoll the virtues of the 12-nation Trans-Pacific Partnership (TPP) trade deal, saying it will make it easier for American businesses to sell their products abroad. The Trans-Pacific Partnership (TPP) pact struck in Atlanta on October 5 after marathon talks could reshape industries, change the cost of products from cheese to cancer treatments and have repercussions for drug companies and automakers. Although ultimate winners and losers from the Trans-Pacific Partnership (TPP) are still unclear, some Republicans are worried about its impact on industries including dairy, tobacco and pharmaceuticals, highlighting the battle ahead to win votes. "I look forward to working with both parties in Congress to approve this deal -- and grow our economy for decades to come," said Obama, who has to win the support in the Republican-controlled Congress for the pact, which will cut trade barriers and expand access to 40 percent of the world economy. The deal faces skepticism from lawmakers. Obama and Biden have pushed for the trade deal, arguing it would help the United States increase influence in East Asia and counter the rise of China, which is not part of the pact.

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Obama promotes Pacific trade pact in weekly address

Saturday, October 10, 2015 - 01:15