Obama asks Congress for power to set trade pacts
Mr Obama warned in his annual State of the Union address that China is aiming to write its own trade rules for the Asian region, a move “that would put our workers and businesses at a disadvantage”. -- PHOTO: AFP
WASHINGTON (AFP) - President Barack Obama asked Congress on Tuesday to give him the powers to fully negotiate huge transpacific and transatlantic free-trade agreements, arguing it will boost the economy and help American workers.
He warned in his annual State of the Union address that China is aiming to write its own trade rules for the Asian region, a move “that would put our workers and businesses at a disadvantage.”
“Why would we let that happen? We should level the playing field,” he said. “That’s why I’m asking both parties to give me trade promotion authority to protect American workers, with strong new trade deals from Asia to Europe that aren’t just free, but fair.”
Mr Obama, seeking to complete the huge Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership trade pacts, admitted that past trade deals “haven’t always lived up to the hype.”
“But ninety-five per cent of the world’s customers live outside our borders, and we can’t close ourselves off from those opportunities.”
Mr Obama is seeking so-called fast-track authority that would allow the White House to negotiate complete trade deals and to submit them in their entirety to Congress to ratify, without the power to amend them.
Republicans in Congress have shown substantial support for giving Obama those powers, while his own Democratic Party is resisting, worried that the proposed deals could lead to job losses in US industry.
The US President also told Americans in his speech before a joint session of Congress that it is time to "turn the page" from economic recession and war.
"We are fifteen years into this new century. Fifteen years that dawned with terror touching our shores; that unfolded with a new generation fighting two long and costly wars; that saw a vicious recession spread across our nation and the world.
"It has been, and still is, a hard time for many. But tonight, we turn the page."
Citing a growing economy, shrinking deficits, bustling industry and booming energy production, the US President said Americans have risen from recession.
"The shadow of crisis has passed, and the State of the Union is strong,'' he told a cheering audience.
In his speech, Obama vowed to take on rising income equality, two months after frustrated voters dealt his Democratic Party a resounding defeat in Congressional elections.
He called for higher taxes on the very rich, more tax breaks for middle class families, an increase in the minimum wage and better workplace benefits to strengthen household incomes.
Touting a new “middle class economics for the 21st century", he demanded: “Will we accept an economy where only a few of us do spectacularly well, or will we commit ourselves to an economy that generates rising incomes and chances for everyone who makes the effort?”
The issue has long been on the boil. The rebound from the 2008 to 2009 recession has put the United States at the forefront of all major economies.
Last year, job creation was the strongest since 1999, and the unemployment rate fell to 5.6 percent, enviable within the G20 group of leading economies.
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