U.S. Immigration Life: On the 3rd, U.S. President Obama stated during an interview with the U.S. public media program "Marketplace" that China has inquired about the possibility of joining the Trans-Pacific Partnership (TPP) in the future, and he hopes Congress will grant him the authority to negotiate such international agreements.
According to a report by the Associated Press on the 4th, during the interview, Obama stated that the TPP negotiations between the United States and 11 other Asia-Pacific countries will set and even influence WorldWay rules that affect China, but China is not currently a party to the negotiations. Obama told "Marketplace" host Kai Ryssdal: "They (referring to China) have already begun to explore the possibility of joining at some stage."
Obama often promotes the TPP as a way for the United States to gain influence in Asian markets, stating, "If China joins at some stage, it will have to agree to the standards of the agreement." Obama noted that even without China, if other major economies in the Asia-Pacific region reach an agreement on labor standards, environmental standards, intellectual property protection, and tariff reductions, China will have to at least consider these international rules. Obama hopes that the negotiation authority will set rules for future trade agreements, with lawmakers retaining only the right to approve or reject the final agreement, but not to change it. Republican leaders and most Republican lawmakers support Obama's proposal, but opposition from the majority of House Democrats is growing, claiming that the agreement will become a mere formality.
On the 4th, Agence France-Presse commented that as the TPP negotiations approach their conclusion, Obama hinted that the leaders of the world's second-largest economy would jump on board. Although China's accession does not seem urgent, Obama's comments suggest a prospect that the TPP could serve as the foundation for a broader agreement. The TPP includes several large economies, such as Japan, South Korea, Vietnam, Canada, and Australia, but significant obstacles remain, including domestic challenges faced by Obama. The White House is currently working to secure enough votes in Congress to grant Obama trade negotiation authority. The possibility of China joining the TPP has heightened concerns among Democrats, including Obama, about labor standards and the loss of American jobs overseas.
On the 3rd, Congressman Brad Sherman stated at a protest against fast-track legislation, "If China joins the TPP, China will be the biggest beneficiary of this agreement." Government officials and trade supporters have indicated that it is unclear what China's stance is, but they claim that multinational trade agreements are the wrong way to address currency issues, as such actions could lead to trade wars and undermine the Federal Reserve's ability to implement monetary policy.
