House Speaker Paul Ryan said he will “reserve judgment” on whether to endorse the terms of a major trade deal with Pacific Rim nations.
The text of the Trans-Pacific Partnership was released Thursday after months of negotiations. The deal is aimed at fostering trade between the United States and a dozen nations. It sets economic policy and standards in exchange for lowering or eliminating tariffs and other barriers to trade.
American unions oppose the deal and say it will kill U.S. jobs. Democrats are mostly against it, but many Republicans support it, as does President Obama.
Ryan, R-Wis., offered cautious optimism and praised the Trade Promotion Authority legislation Congress passed this year, which gave Obama the power to negotiate the deal and will allow lawmakers months to review the accord.
“Enactment of TPP is going to require the administration to fully explain the benefits of this agreement and what it will mean for American families,” Ryan said in a statement Thursday. “But I remain hopeful that our negotiators reached an agreement that the House can support because a successful TPP would mean more good jobs for American workers and greater U.S. influence in the world.”
