4.7.2: Trade
Free and Fair Trade. Other Information:
We have also sought to promote free and fair trade. Because of the economic dynamism of the Asia-Pacific region, which is
already home to more than half the global economy, expanding trade with that region is critical to creating jobs and opportunities
for the American people. Building on the free trade agreement with South Korea that President Obama signed, we are working
with our partners in the Asia-Pacific Economic Cooperation Forum to create a seamless regional economy, promote green growth,
and coordinate regulatory reform. Alongside Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and
Vietnam, we are on track to finalize the Trans-Pacific Partnership, a historic high-standard agreement that will address new
and emerging trade issues, lower barriers to the free flow of trade and investment, increase exports, and create more American
jobs. Exploring opportunities to shape the multilateral trading system to reflect the role and responsibility of major emerging
markets in the global economy is a critical part of the President's trade agenda. We will work to expand free and fair trade
in the Americas as well. We already export more than three times as much to Latin America as we do to China, and we will pursue
additional opportunities to expand commerce and promote shared prosperity. Last year the President signed free trade agreements
with Panama and Colombia—agreements that will significantly boost U.S. exports and support thousands of jobs here at home—while
protecting labor rights, the environment, and intellectual property. Because the Caribbean is an important region to our country,
we will continue to support robust trade and economic relationships with our partners there. And, across the region, we are
moving ahead with "open skies" agreements to expand opportunities for commercial aviation and to bring our people and businesses
closer together. We have also worked to ensure that American businesses and workers are competing on an even footing with
our international competitors, and we have not hesitated to take action. That's why the Obama administration has brought trade
cases against China at twice the rate of the previous administration and recently set up a new Interagency Trade Enforcement
Center, which substantially expands our ability to investigate and take action against unfair trade practices around the world.
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