Obama Administration Notifies Congress On Pacific Trade Pact

[Purveyor]

WASHINGTON -(Dow Jones)- The Obama administration notified U.S. lawmakers Monday that it intends to enter into talks on the Trans-Pacific Partnership, advancing its drive to eventually join Singapore, Brunei, Chile and New Zealand in the regional trade agreement.

President Barack Obama, addressing concerns that the U.S. trade agenda has become stalled, announced in Asia last month that the U.S. would restart negotiations on the TPP. The first round of talks for the TPP will be held in March.

In letters to Speaker of the House Nancy Pelosi (D., Calif.) and Sen. Robert Byrd (D., W.Va.), U.S. Trade Representative Ron Kirk said the regional trade pact would boost U.S. exports and help save jobs.

"USTR will now intensify consultations with Congress and with American stakeholders to develop objectives for the Trans-Pacific Partnership agreement negotiations, in order to enter already-scheduled talks in March with a robust U.S. view that seeks the highest economic benefit for America's workers, farmers, ranchers, manufacturers, and service providers, and that reflects our shared values on labor, the environment, and other key issues," Kirk said.

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