US President Barack Obama gestures as he walks on the South Lawn of the White House in Washington,DC before his departure to Raleigh, North Carolina on November 2, 2016. / AFP / YURI GRIPAS
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The White House warned Thursday that failure to approve the Trans-Pacific Partnership trade pact will put billions of dollars in US exports at risk to competition from China.The United States negotiated the TPP with 11 Pacific Rim countries, but the agreement's implementation has been stalled by the US Congress, which has not ratified it.The report looks at the Beijing-promoted Regional Comprehensive Economic Partnership currently being negotiated in the Asia-Pacific region, which has 16 members, including seven that also are in the TPP.More than $225 billion in US exports -- roughly 10 percent of total US exports to the world -- go to the seven countries that are in TPP and also in RCEP.
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