India, China deals increased US jobs: Obama
The business agreements with countries like India and China in the last few months have increased American exports and create more jobs, the US President Barack Obama has said.
"Recently, we signed agreements with India and China that will support more than 250,000 jobs in the United States," Obama said in his State of the Union Address on Tuesday.
"Last month, we finalized a trade agreement with South Korea that will support at least 70,000 American jobs. This agreement has unprecedented support from business and labour, Democrats and Republicans, and I ask this Congress to pass it as soon as possible," the President said in his joint address to the US Congress.
"To help businesses sell more products abroad, we set a goal of doubling our exports by 2014 - because the more we export, the more jobs we create at home. Already, our exports are up," he said.
Obama said he made it clear that the US would enforce trade agreements, and that he would only sign deals that promote American jobs.
"That's what we did with Korea, and that's what I intend to do as we pursue agreements with Panama and Colombia, and continue our Asia Pacific and global trade talks,” he said.
"To reduce barriers to growth and investment,I have ordered a review of government regulations. When we find rules that put an unnecessary burden on businesses, we fix them. But I will not hesitate to create or enforce commonsense safeguards to protect the American people," he said.
"It's why last year, we put in place consumer protections against hidden fees and penalties by credit card companies, and new rules to prevent another financial crisis. And it's why we passed reform that finally prevents the health insurance industry from exploiting patients," he said.