Bloomberg: Congress Should Pass TPP Before Next President Takes Office

Congress should pass the Trans-Pacific Partnership trade pact this year, before the next president takes office, Michael Bloomberg says.

Despite the cause célèbre TPP has become — both Donald Trump and Hillary Clinton oppose it — most Americans, economists and business leaders believe more trade is good for the economy, writes Bloomberg, former mayor of New York City.

"Global trade opens up new markets to American businesses, creating new opportunities to grow," Bloomberg wrote.

"In fact, the U.S. actually runs a cumulative trade surplus in manufactured goods with our 20 trade agreement partners, and we've long run global trade surpluses for services and agricultural products. But you wouldn’t know that by listening to the presidential candidates."

Bloomberg co-authored the piece with Thomas Donohue, president and CEO of the U.S. Chamber of Commerce.

• Bernie Sanders: Clinton Won't Change Her Mind on TPP
• Trump Says He'll Grow US Economy More Than 4 Percent