Obama reaffirms support for TPP

File image of Barack Obama Source: AAP

Speaking at the closing of the APEC summit in Peru, Barack Obama has told reporters the US should not retreat from global trade.

President Barack Obama has reaffirmed his support for a controversial trade agreement strongly criticised by his successor.

President-elect Donald Trump has called the Trans-Pacific Partnership, or TPP, trade deal negotiated by the Obama administration a "job killer" and a "disaster" pushed by special interests.

In a news conference at the closing of the APEC summit in Peru, Obama said the US should not retreat from global trade, but seek to "do trade right" so that workers are protected and environmental standards are upheld.

Obama argued it's time for the US to reaffirm its support for the TPP trade deal. He said other world leaders at the summit made clear they want to move ahead with the agreement, and without the US it will be a weaker deal. The US would lose an opportunity to shape the rules of global trade "in a way that reflects our values," Obama said.

Source AAP

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