November 17, 2014

FOCUSSED ON HIS LEGACY:

Obama Looks to Jump-Start Export Push (WILLIAM MAULDIN, Nov. 16, 2014, WSJ)

Mr. Obama met with heads of the Group of 20 leading economies over the weekend in Australia to discuss ways to juice growth, which has again disappointed in Europe and Japan. For the U.S., one goal of increasing exports is to lift the lackluster manufacturing sector and relieve the pressure on consumers to deliver economic growth.

The U.S. and European Union announced trade negotiations early last year as a way to kick-start sluggish growth without changing tax or spending policies. Japan sees a separate Asian-Pacific trade deal as part of its efforts to bring efficiency and growth to stagnant sectors of its economy.

At home, the Obama administration is dangling the prospect of export gains--and associated manufacturing jobs--to attract support for the Trans-Pacific Partnership talks that include Japan and other Pacific Rim countries, as well as for the EU deal. Trade deals are widely seen as one economic area where the president and congressional Republicans, which swept to gains in this month's midterm elections, are in general agreement.

"To ensure that TPP is a success, we also have to make sure that all of our people back home understand the benefits for them--that it means more trade, more good jobs, and higher incomes for people throughout the region," Mr. Obama said last week in China.

Posted by at November 17, 2014 4:42 PM
  

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