TPP Plays Economic and Strategic Role in US Policy Agenda, Says Froman
The primary goal of U.S. trade policy is to support the U.S. economy, but strategic and foreign policy objectives also benefit from U.S. free trade agreements, said U.S. Trade Representative Michael Froman in Sept. 18 remarks at the Chamber of…
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Commerce. A strengthened U.S. economy does enable “military might,” but the administration’s pivot to East Asia, partially through the Trans-Pacific Partnership, is reliant on bringing Asian standards to U.S. levels. “Those standards that we are seeking include are the highest labor and environmental standards of any trade agreement -- standards that will be fully enforceable,” said Froman. “They include advancements in intellectual property rights protection, both to spur innovation and ensure access to it. This agreement will include the first-ever disciplines on state-owned enterprises, which will ensure that when SOEs compete against private firms, they do so on a commercial basis.” Vietnam is still, however, insisting on mass SOE exemptions in the TPP agreement, observers say (see 14091028).