Obama’s tenure may become a historical legacy if the trade pact involving the United States and 11 other nations such as Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam would be approved by Congress. It is truly a game-changing deal as it draws together countries representing two-fifths of the global economy into a web of common rules governing trans-Pacific commerce.
Obama wants to rewrite the rules of global economy and setting the new markets to American products with high standards for protecting workers and preserving the environment. But several labor groups are worried about the result because American jobs being sent to countries with lower wages and less stringent labor and environmental standards. So, they are opposing the pact that is taken up by the Obama.
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US and its allies might see this deal as a check in Chinese growing influence on the world economics but Obama is working on selling the agreement through Agriculture Department to tout its benefits for farmers. The agreement will be very helpful for the farmers because this pact is an agreement to cut an estimated 18,000 taxes, or tariffs. White House spokesman Josh Earnest said the U.S. poultry is taxed in some cases much as 40 percent and soybeans as much as 35 percent.Those tariffs would be slashed if not eliminated, Earnest said.