Obama touts progress on Trans-Pacific Partnership, says trade pact could be 'historic'

Economic Indicators Associated Press

President Barack Obama says world leaders have made good progress in resolving remaining obstacles to completing the Trans-Pacific Partnership.

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He says the major free trade deal has the potential to be an "historic agreement."

Obama is meeting in Beijing with heads of state of the dozen countries pursuing the trade agreement. He says the meeting is aimed at "breaking some remaining logjams" and says the agreement is a high priority for Asia.

Obama says political leaders need to sell their citizens on the benefits of the deal. He says the stronger the eventual agreement, the better the benefits.

No major breakthroughs are expected during meetings this week on the agreement, which involves Asian nations as well as some Western countries, like the U.S. and Mexico.