White House to sell TPP trade pact at US-ASEAN Summit

Global Business

White House to sell TPP trade pact at US-ASEAN Summit2

The U.S. is pushing for more Southeast Asian countries to sign up for the Trans-Pacific Partnership at the first U.S.-ASEAN Summit.

Four members of the Association of Southeast Asian Nations have signed up already, but there are concerns that the TPP could do more harm than good.

CCTV America’s Jessica Stone reports from California.

White House to sell TPP trade pact at US-ASEAN Summit

White House to sell TPP trade pact at US-ASEAN Summit

The U.S. is pushing for more Southeast Asian countries to sign up for the Trans-Pacific Partnership at the first U.S.-ASEAN Summit. Four members of the Association of Southeast Asian Nations have signed up already, but there are concerns that the TPP could do more harm than good. CCTV America's Jessica Stone reports from California.

Fewer than half of the Southeast Asian nations in ASEAN have joined the Trans-Pacific Partnership trade agreement. The U.S.-ASEAN Summit gives the White House the ability to sell the deal to those left behind. White House officials say the U.S. Trade Representative, Michael Froman and U.S. Commerce Secretary, Penny Pritzker will both be in attendance.

About TPP:

  • 12 Pacific Rim Nations
  • Lowers Tariffs, Sets Labor, Environmental Standards
  • Excludes China, Republic of Korea, 6 ASEAN Nations
  • Two competing regional trade agreements: RCEP and FTAP (China is a member of both.)

What is the purpose, real intention of establishing (the) Trans-Pacific Partnership…that they include half of ASEAN to be partners…and leaving half of ASEAN outside. That’s a point I would like the World Economic Forum on Asia-Pacific to provide consideration and debate.
– Cambodian Prime Minister, Hun Sen as reported in The Diplomat.

TPP will certainly deepen or extend the kind of global connections that basically four of the 10 countries have, and I think that can only help deepen ASESAN’s ability to compete globally also.
– Mark Mealy, U.S. ASEAN Business Council

The TPP is an extensive agreement. China is studying it and evaluation work is under way…We hope the various free trade arrangements in the Asia-Pacific region will complement each other and jointly contribute to trade, investment and economic growth of this region.
-Chinese Ministry of Commerce Statement