The Prime Minister of Singapore said if the U.S. doesn’t ratify the Trans-Pacific Partnership, it will lose credibility in many countries around the world. He said some countries like Japan have gone out of the way to support TPP and it will mean a big setback for America.
The trade pact is currently tabled in Congress until after the November election. An article on the website dawn dot com says the trade pact needs to be ratified by January or it could be a casualty of the presidential election as both major-party candidates have come out against it.
The Prime Minister said he’s not optimistic it would be ratified after that. He said the one big thing America has to do is, “Settle the TPP, because it shows how serious you (U.S.) are about deepening relationships in the Pacific Rim and that you have a significant interest in upholding them.” He said the U.S. credibility in the region will take a significant hit if America doesn’t pass TPP.