Monday, December 14, 2009

Obama to seek free trade pact with Asia-Pacific group

President Barack Obama told Congress today that he will seek a trade agreement with a group of Asian nations.

The Trans-Pacific Partnership with seven other nations in Asia was first suggested by Brunei, Chile, New Zealand and Singapore, and later Australia, Peru, Vietnam expressed willingness to join.

Some farmer and rancher, and textile groups have voiced opposition to the trade pact because they thought their industries would be threatened by other participating countries.

However, free trade groups lauded the decision stating that free trade would open up opportunities in all the countries involved.

1 comment:

Torgny said...

I think that we (humanity) today are confronting a great choice. Either we choose the way of cooperation, or we choose the way of "everyone for himself." Individuals for themselves, and nations for themselves.

I do really hope that we choose the way of cooperation, and I see this move by Obama as a step in this direction.

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