Obama administration in USA will be known for a lot of brave decisions, be it the Gay Rights Bill or Iran Nuclear Deal. The latest of such bold decision came when president Obama announced the trans-pacific partnership. The deal came out as great news for the nations of Pacific Rim that includes the Japan, USA and some 10 other nations. The experts have regarded the deal as the largest regional trade agreement ever.
The trade deal has largely seen as a breakthrough for the regional integration and trade but on the other hand it is expected to come under heavy scrutiny by the congress. President Obama will have to face a great deal of fight to get the approval of congress in order to make this deal a reality.
According to the Michael B. Froman who is the trade representative of USA, the deal is a fruit of years of struggles, talks and sleepless nights and this is just a first step in a long journey. He expressed his views while announcing this high profile trade deal.
Now the deal will be presented in the congress and it will take several months where a great opposition is already seems prominent. Nonetheless the deal will be remembered as a great achievement for the president Obama who is now in the final year of office. The deal will integrate the pacific nations that represent nearly two-fifth of the global economy. The countries like Canada, Japan, Chile and Australia will be drawn into a network of common rules under this agreement which will control the commerce in trans-pacific region. It remains the cornerstone of Obama’s foreign policy to develop close relationships with the East Asian nations who are growing at an exponential pace and also to expand the exports of USA as his economic policy. This deal will bring a great benefit for the USA for both their economy and the foreign policy once it gets the approval of congress.
President Obama issued a statement in support of the trade deal saying that more than 95 % of potential customers for the American products live outside US borders and we should be considering opening new markets for our products and set new and higher standards for the worker’s safety and environment protection. He said that he can’t allow the countries like China to write the rules for world economy.
President Obama will need to assemble lawmakers from his political center to minimize the resistance against the deal. The president will be looking for more democrats’ votes this time to translate this accord into a reality. The conservatives are already against the deal who doesn’t want president Obama to achieve something this big. The republican presidential candidate Mr. Donald J. trump also seems to be wary of the trade deal. In his tweet he called it a “Terrible Deal”. Opposition for the deal is also expected from the democrats. The 2016 nomination of the democrats’ senator Bernie Sanders is also all out against the deal calling it a “Disastrous Deal”.
The trans-Pacific trade accord seems a promising start for a sustainable trade agreement between the pacific nations, however president Obama will have to put a great deal of struggle to get the approval of congress in his final year in the office.