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Hillary Clinton voices opposition to Pacific trade deal | Hillary Clinton voices opposition to Pacific trade deal |
(about 2 hours later) | |
US presidential hopeful Hillary Clinton has come out against the Trans-Pacific Partnership agreement championed by Barack Obama. | US presidential hopeful Hillary Clinton has come out against the Trans-Pacific Partnership agreement championed by Barack Obama. |
The landmark trade deal involves 12 countries along the Pacific rim, including the US, Australia and Japan. | |
In an interview Mrs Clinton said the agreement left many "unanswered questions" and did not met the "high bar" she had set. | In an interview Mrs Clinton said the agreement left many "unanswered questions" and did not met the "high bar" she had set. |
"I am not in favour of what I have learned about it," she told PBS. | "I am not in favour of what I have learned about it," she told PBS. |
The former Secretary of State joins rivals for the Democratic presidential nomination, Bernie Sanders and Martin O'Malley, in opposing the agreement. | The former Secretary of State joins rivals for the Democratic presidential nomination, Bernie Sanders and Martin O'Malley, in opposing the agreement. |
The deal took five years to negotiate and covers 40% of the global economy. | The deal took five years to negotiate and covers 40% of the global economy. |
Analysis: Anthony Zurcher, North America reporter | Analysis: Anthony Zurcher, North America reporter |
Hillary Clinton's move to come out against the TPP - with some qualifications - less than a week out from the first Democratic debate will instantly be viewed in the context of Democratic presidential politics. | Hillary Clinton's move to come out against the TPP - with some qualifications - less than a week out from the first Democratic debate will instantly be viewed in the context of Democratic presidential politics. |
Vermont Senator Bernie Sanders - who has repeatedly condemned the trade agreement as harming US workers and threatening the environment - is offering a surprisingly strong challenge to Mrs Clinton from the populist left. | Vermont Senator Bernie Sanders - who has repeatedly condemned the trade agreement as harming US workers and threatening the environment - is offering a surprisingly strong challenge to Mrs Clinton from the populist left. |
He was likely to bring the topic up during the debate and use it against the former Secretary of State, who once called the agreement the "gold standard" for trade negotiations. | He was likely to bring the topic up during the debate and use it against the former Secretary of State, who once called the agreement the "gold standard" for trade negotiations. |
By backing away from the TPP, Mrs Clinton could also be anticipating the arrival of another, more formidable opponent for the Democratic nomination: Joe Biden. | By backing away from the TPP, Mrs Clinton could also be anticipating the arrival of another, more formidable opponent for the Democratic nomination: Joe Biden. |
The Vice-President has made increasingly clear moves toward a presidential bid, and given his current job it would be extremely difficult for him to oppose a key piece of his boss's presidential legacy. | The Vice-President has made increasingly clear moves toward a presidential bid, and given his current job it would be extremely difficult for him to oppose a key piece of his boss's presidential legacy. |
Mr Biden's campaign would be likely to rely heavily on working-class, union support - a segment of the Democratic electorate that is firmly opposed to new trade deals. Mrs Clinton could be digging her trenches now, before the battle commences. | Mr Biden's campaign would be likely to rely heavily on working-class, union support - a segment of the Democratic electorate that is firmly opposed to new trade deals. Mrs Clinton could be digging her trenches now, before the battle commences. |
In an interview on Wednesday, Mrs Clinton said she would only support a trade bill that helped American workers. | In an interview on Wednesday, Mrs Clinton said she would only support a trade bill that helped American workers. |
"I have said from the very beginning that we had to have a trade agreement that would create good American jobs, raise wages and advance our national security and I still believe that is the high bar we have to meet," she said. | "I have said from the very beginning that we had to have a trade agreement that would create good American jobs, raise wages and advance our national security and I still believe that is the high bar we have to meet," she said. |
President Obama, for whom the deal would be a prime economic achievement of his second term, said the deal would level the global playing field for US workers. | President Obama, for whom the deal would be a prime economic achievement of his second term, said the deal would level the global playing field for US workers. |
"[The deal] includes the strongest commitments on labour and the environment of any trade agreement in history," he said after the agreement was reached. | "[The deal] includes the strongest commitments on labour and the environment of any trade agreement in history," he said after the agreement was reached. |
Meanwhile, Mrs Clinton also plans to propose a tax on high-frequency trading, her campaign said. | |
The tax would target securities transactions with excessive levels of order cancellations that can destabilise the markets, a campaign aide said. |