At the G20 summit, President Obama also tried to assure Asian nations that the United States would, in fact, ratify the Trans-Pacific Partnership, despite mounting opposition.
President Barack Obama: “On the merits, it is smart for America to do it. And I have yet to hear a persuasive argument from the left or the right as to why we wouldn’t want to create a trade framework that raises labor standards, raises environmental standards, protects intellectual property, levels the playing field for U.S. businesses, brings down tariffs. It is indisputable that it would create a better deal for us than the status quo.”
The Trans-Pacific Partnership is a massive proposed trade deal that would encompass 12 Pacific Rim nations, including the U.S., and 40 percent of the global economy. U.S. presidential nominees Hillary Clinton, Donald Trump and Jill Stein have all said they would not sign the TPP. It has faced years of public protests by those who say it benefits corporations at the expense of health and environmental regulations.