10:49 GMT05 August 2021
Listen Live
    Business
    Get short URL
    11279
    Subscribe

    China will pursue a multilateral trade deal that intentionally excludes the United States, according to US Secretary of Commerce Penny Pritzker.

    WASHINGTON (Sputnik) — China will pursue a multilateral trade deal that intentionally excludes the United States, US Secretary of Commerce Penny Pritzker said at a Center for Strategic and International Studies forum in Washington.

    “China… said we’re going to pursue a multilateral trade agreement and the purpose is we’re going to keep the United States out,” Pritzker stated on Thursday. “That is not good for American workers, that is not good for the American economy, that is not good for American power.”

    Pritzker emphasized the necessity to ratify the Trans-Pacific Partnership (TPP) trade agreement in order to build and strengthen the American economy, claiming that walking away from it will only strengthen China.

    She noted that 95 percent of customers and consumer are outside the United States and added that the fastest growing middle class is in the Asia Pacific region.

    The Obama administration committed to getting the deal ratified before he leaves office next month, but the Senate is unlikely to vote on the TPP by then.

    The election of Donald Trump as US president last month sparked uncertainty on the fate of the agreement. Trump repeatedly threatened to scrap the pending deal in line with his expressed desire to prioritize domestic economic development over global trade.

    Related:

    Beijing: We Are Readying Slingshot in South China Sea
    What Role Can China Play in Post-War Economic Reconstruction of Syria?
    Tags:
    China, US, Penny Pritzker, multilateral, ties, trade deal
    Community standardsDiscussion