Kerry urges Congress to ratify TPP

WASHINGTON, Sept 29 (KUNA) -- US Secretary of State John Kerry called on Congress Wednesday to ratify the Trans-Pacific Partnership (TPP) before President Barack Obama leaves office in January.
The deal, which was largely negotiated in secret with 11 Pacific rim countries over a period of seven years, is an effort to establish a powerful trading bloc encompassing more than 35 percent of the world's GDP. The pact excludes China.
"Our leadership requires us to pursue high-standard, innovative initiatives". TPP is not only about boosting our economy at home and deepening our commercial ties in key markets, but an agreement that is also about strengthening our national security and strategic leadership in Asia and across the globe," Kerry said in a speech to the Wilson Center think tank.
"We need to begin with a very fundamental proposition in understanding this agreement: either the United States of America is an Asia Pacific power, or we are not. And the 'not' carries with it serious consequences," he continued. "We can't talk about the rebalance to Asia one day and then sit on the sidelines the next, and expect to possibly send a credible message to partners and to potential partners around the world. Foreign policy doesn't work that way." Describing it as the "highest level standard trade pact ever reached" for it's labor, pharmaceutical, and environmental regulations, Kerry said the TPP will also "abolish 18,000 foreign taxes on American goods that prevent our goods from entering into other countries." Critics, however, say developing countries and their low-income residents will suffer greatly from the loss of access to things like affordable, generic medicine.
Both US presidential candidates Hillary Clinton and Donald Trump currently oppose the TPP.
"I hope that in a few weeks when the election is over and Congress returns to Washington to finish the people's business, it will take up and approve TPP and take other steps to preserve, protect, and defend the best interests of our beloved country," Kerry said.(end) ys.tg