Obama administration defends TPP as 'comprehensive and balanced'

WASHINGTON (Reuters) - The Trans-Pacific Partnership is a comprehensive and balanced agreement that will raise living standards and reduce poverty, the U.S. Trade Representative said in defending a pact that is expected to face opposition in the U.S. Congress.

The USTR said that the TPP, as the deal is known, would eliminate or reduce tariff and non-tariff barriers across a spectrum of goods and services, address issues like the development of the digital economy and the role of state-owned enterprises in the global economy.

"We envision conclusion of this agreement, with its new and high standards for trade and investment in the Asia Pacific, as an important step toward our ultimate goal of open trade and regional integration across the region," the USTR said.

(Reporting by Diane Bartz; Editing by Chizu Nomiyama)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• 'Panic' selling hits Indonesian markets on MSCI expulsion threat
• China's new home prices fall again as recovery remains elusive
• Rubio says Ukraine and Russia should be focused on ending the war