Completing his proposed Trans Pacific Partnership
The pact was announced after Mr. Obama returned to Washington from Asia without completing his proposed Trans Pacific Partnership, a 12-nation free-trade agreement that the president views as the linchpin of his oft-touted “rebalancing” of U.S. interests toward the Pacific Rim. Australia is one of the proposed partners in the TPP.
“So far in his presidency, President Obama has been more talk than action,” said Bryan Riley, a specialist in trade policy at the conservative Heritage Foundation. “He’s got a couple of years left to try to make progress on trade but so far, it’s been very disappointing as the United States has sat on the sidelines and watched other countries wrap up deals.”
During his week-long trip to Asia, Mr. Obama sought to reassure allies wary over Washington’s commitment towards its strategic realignment to the region.
Washington and Beijing have competing visions for free trade in the Asia-Pacific region, with the U.S. pushing the TPP, which excludes China, and China backing a free-trade zone.
Before leaving Australia Sunday, Mr. Obama told reporters that he’d made progress on a variety of economic fronts, including a conditional information technology agreement with China, calling it “a good week for American leadership and for American workers.”
