VIENTIANE -- The U.S. will face grave consequences if it fails to ratify the Trans-Pacific Partnership, President Barack Obama warned on Tuesday in a speech delivered in the Laotian capital. Not only would this damage America's economic ties in Asia, the president said, it would also undermine its regional stature.
Calling the free trade deal the "core pillar of America's rebalance to the Asia-Pacific," Obama emphasized his commitment to push for congressional approval before he leaves office in January. "The failure to move ahead with TPP ... would call into question America's leadership in this vital region," the president said, sending a strong message to U.S. politicians at a time when the TPP debate seems to be stalling.
