Landmark Trans-Pacific Partnership deal reached

The White House announced Monday that a deal had been reached on the Trans-Pacific Partnership (TPP) in what could be a legacy-defining achievement for President Obama. It has been in the works for years, accounts for 40 percent of the global economy. Proponents say it will expand trade and investment between member states; boost U.S. exports to some of the world's fastest-growing economies; provide a forum for promulgating labor standards and resolving disputes; and even help small businesses benefit from trade. Critics say it will push more jobs out of the US, squeeze people's wages, and allow other countries to manipulate their currency for a competitive advantage. They also slammed the pact's secretive tribunals that allow foreign corporations to sue governments if they believe a country's laws unfairly diminish their profits.