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U.S. Chamber of Commerce endorses TPP, urges Obama to address industry concerns

Xinhua, January 7, 2016 Adjust font size:

The U.S. Chamber of Commerce on Wednesday voiced its support for the controversial Trans-Pacific Partnership (TPP) deal, but urged the Obama administration to address industry concerns about some provisions in the trade pact.

"The U.S. Chamber of Commerce today announces its support for the TPP and pledges to advocate for its approval by Congress," the chamber's president and chief executive officer Thomas Donohue said in a statement.

"No trade agreement is perfect, and the TPP is no exception," Donohue said. "We strongly encourage the Obama administration to work with Congress to address legitimate concerns expressed by industry and legislators to achieve the highest possible standards for American workers and business."

Donohue's statement echoes the stance taken by several major influential business groups, including the National Manufacturers Association and the Business Roundtable, which also expressed support for the TPP but wanted the administration to improve some provisions in the trade deal.

U.S. business groups and some influential Republican lawmakers have expressed their disappointment over provisions governing tobacco, pharmaceuticals and financial institutions in the TPP, which was finalized last October after more than five years' negotiation.

Senate Majority Leader Mitch McConnell warned last month that President Obama "would be making a big mistake" if he tried to push for a vote on the TPP deal before this year's presidential election.

"It certainly shouldn't come before the election," McConnell told The Washington Post. "There's significant pushback all over the place."

While many Republican and Democratic presidential candidates had spoken out against the Pacific trade deal, Obama said last month at his year-end press conference that passing the TPP would be a top legislative priority in 2016. Endi