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Monday, August 22, 2016

U.S. Faces Setback in Asia if TPP Trade Deal Doesn’t Pass

http://www.wsj.com/articles/u-s-faces-setback-in-asia-if-tpp-trade-deal-doesnt-pass-1471814373

U.S. Faces Setback in Asia if TPP Trade Deal Doesn’t Pass

Obama administration has painted Pacific pact as counterweight to the rise of China

By John Lyons
President Barack Obama’s troubled Pacific-region trade deal is threatening to become a foreign policy failure in Asia, where the U.S. loaded the accord with strategic significance as a counterweight to the rise of China.
U.S. officials have billed the 12-nation Trans-Pacific Partnership for years as central to a shift of U.S. military and other resources to Asia. Now, with opposition toward the pact mounting on both the right and left in Washington, the likelihood of its ratification in Congress appears bleak.
Failure at this point, experts say, would dent U.S. credibility on everything from trade to its commitment to a region where U.S. might has underpinned security since World War II. http://www.wsj.com/articles/u-s-faces-setback-in-asia-if-tpp-trade-deal-doesnt-pass-1471814373

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