Obama on benefits of TPP trade agreement
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(21 Nov 2015) RESTRICTION SUMMARY: AP CLIENTS ONLY AP TELEVISION - AP CLIENTS ONLY Kuala Lumpur - 21 November 2015 1. SOUNDBITE (English) Barack Obama, US President: "Four of your nations are already part of TPP (Trans-Pacific Partnership trade agreement): Brunei, Malaysia, Singapore and Vietnam. Along with the United States, it also includes Australia, Japan, New Zealand, Canada, Mexico, Peru and Chile. When implemented, it won't just boost trade and support jobs in our 12 countries; it will help set stronger rules for trade across the Asia-Pacific. And that's what I want to talk about today." 2. ++BLACK FRAMES++ 3. SOUNDBITE (English) Barack Obama, US President: "I know that the politics around trade can be hard in all of our countries. And past agreements haven't always lived up to their promises. In recent decades with the rise of globalisation and technology, some workers, especially in developed countries, have seen their jobs exported abroad or replaced by automation. I've seen it in my home state of Illinois, as manufacturing plants shut down and jobs dried up over the last two decades. And all of this has made many people sceptical of trade agreements, despite the fact that American manufacturing has added some 900,000 news jobs in the past few years, growing for the first time in more than a decade. Meanwhile, some industries that are protected from competition by subsidies or tariffs, and the political interests that represent those industries, often resist efforts to change the status quo. So for all these reasons a new trade deal like TPP can be a tough sell. But the answer is not to stop trading. To try to build barriers that close any individual country off from the global economy - it's not possible any more. Our economies are more integrated than ever. Companies like yours rely on global supply chains. The answer is to do trade the right way. And that's what TPP does." 4. ++BLACK FRAMES++ 5. SOUNDBITE (English) Barack Obama, US President: "I've been making the case for TPP to the American people, including our Congress, where I am confident we will get approval and move forward. I know there's similar debates in TPP countries here in Asia. And as business leaders you can make your voices heard. So I'm not going to recount all the reasons why this is such a good deal. But I would encourage you to remind people back home that this trade pact is a win for all of our countries. It's a win for our 12 TPP countries by eliminating tens of thousands of tariffs, essentially taxes on goods on each other's products. TPP removes old barriers and opens new markets. The United States is already one of the most open economies in the world. And when the high tariffs among our TPP partners come down also, it will create new opportunities for everybody. Malaysia will be able to sell more cell phones to Mexico. Singapore can sell more medicine to Peru. Vietnam will be able to sell more leather goods to Japan. The list goes on." STORYLINE: US President, Barack Obama, on Saturday spoke of the benefits of the proposed Trans-Pacific Partnership (TPP) trade agreement between America and 11 other countries. Obama was speaking at the ASEAN Business and Investment Summit in Kuala Lumpur. =========================================================== Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com (ii) they should check with the applicable collecting society in their Territory regarding the clearance of any sound recording or performance included within the AP Television News service You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/5c9c0e89134ad752518fe3d7f9fab255 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
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