05:14 GMT29 May 2020
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    The Trans-Pacific Partnership (TPP) free trade agreement negotiated by President Barack Obama should be approved as soon as possible, the logistics company United Parcels Service (UPS) Chairman and CEO David Abney said in an interview on Monday.

    WASHINGTON (Sputnik) — Last Friday, the US Office of the Trade Representative posted a draft statement describing serious administrative actions for implementing the TPP trade agreement that would be sent to the US Congress for approval.

    Earlier, the leaders of Congress have claimed that they would not consider the trade deal before the US general election in November.

    "The [Obama] administration is pushing this," Abney told CNBC. "They, in fact, gave the 30-day notice of intent to act just last week. So now we believe there's a really good opportunity between now and the end of the year [to pass TPP]."

    Abney noted that the agreement could introduce new markets for US mid-sized and small companies as well as could raise US exports by 20 percent.

    The TPP agreement seeks to deregulate trade among 12 signatory nations that comprise 40 percent of the world economy. They include the United States, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

    Republican presidential candidate Donald Trump has been very outspoken against the TPP and has argued in favor of rescinding the treaty if not in the interest of the American people.

    In 2012, Clinton praised the pending free trade deal as the "gold standard" for trade agreements. She expressed support for the deal again in 2013, but spoke against the deal in her presidential campaign after being pressured by labor unions and her Democratic competitor Bernie Sanders.

    Critics of the TPP agreement argue the trade deal was concluded under unusual secrecy and will significantly undermine standards and regulations on environmental protection, health and safety, as well as workers’ rights.


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    Trans-Pacific Partnership (TPP), Hillary Clinton, Donald Trump
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