Obama takes turn as 'America's pitch man'
to help sell TPP trade deal
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[June 21, 2016]
By Ayesha Rascoe and Roberta Rampton
WASHINGTON (Reuters) - President Barack
Obama made a plug on Monday for the Trans-Pacific Partnership trade deal
to a group of 2,400 investors looking at locating business in the United
States, saying the deal would help boost the global economy.
Trade has become a hot-button issue in the Nov. 8 presidential
election campaign, with presumptive candidates from both parties
voicing objections to the 12-nation TPP deal that Obama wants the
U.S. Congress to sign off on before his time in office ends on Jan.
20.
Both the Republican and Democratic presidential campaigns have
tapped into populist skepticism about the benefit of trade deals on
jobs and wages, particularly in the manufacturing sector.
Obama tried to dispel the economic gloom-and-doom coming from the
campaign trail, extolling the recovery of the United States from
recession.
"I don't mind being America's pitch man," Obama said in a speech at
the SelectUSA Summit. "In seven months or so, I'll be on the job
market, and I'm glad I'm going to be here. I'm going to get on
LinkedIn and see what comes up," he quipped.
Obama argued that while there are legitimate concerns about boosting
wages and improving working conditions, ultimately global trade can
help connect people from around the world and reduce poverty.
"This is not just about jobs and trade, it's not just about hard
cold cash," he said. "It's also about building relationships across
borders. When your companies come together you help bring countries
and cultures together."
American business lobby groups have been pushing the White House and
congressional leaders to finish their work to ratify the TPP before
the next administration takes office.
Obama's top economic adviser sidestepped a question on a conference
call about the timeline.
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President Barack Obama speaks at the SelectUSA Investment Summit in
Washington June 20, 2016. REUTERS/Kevin Lamarque
"We're continuing to work with congressional leaders to find the
right opportunity, the right window of opportunity, to get TPP
passed this year," Jeff Zients, the director of the National
Economic Council, told reporters.
On Monday, Obama announced a $70 million matching grant to a Los
Angeles "manufacturing hub," a group of businesses and researchers
piloting sensors and other technology to help factories cut costs
and energy use.
It is the ninth of 15 planned hubs that the White House hopes will
boost manufacturing across the country.
On Friday, Obama will continue his pitch for business, speaking
about technology and the economy on a panel with Facebook Chief
Executive Mark Zuckerberg at another summit at Stanford University
aimed at boosting entrepreneurs in developing countries.
(Reporting by Roberta Rampton and Ayesha Rascoe; Editing by Andrew
Hay)
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