By William Mauldin
The Obama administration on Friday gave up all hope of enacting its sweeping Pacific trade agreement, a pact designed to preserve U.S. economic influence in fast-growing Asia that was buried by a wave of antitrade political sentiment that culminated with Tuesday's presidential election.
Just days after Donald Trump surprise victory, U.S. officials said Republican congressional leaders had made clear that they wouldn't consider the 12-nation Trans-Pacific Partnership in the remainder of Mr. Obama's term. The White House had lobbied hard for months in the hope of moving forward on the pact if the Democratic nominee, Hillary Clinton, had won.
The failure to pass what is by far the biggest trade agreement in more than a decade is a bitter defeat for Mr. Obama, whose belated but fervent support for freer trade divided his party and complicated the campaign of Mrs. Clinton.
The TPP's collapse also dents American prestige in the region at a time when China is flexing its economic and military muscle.
--Viktoria Dendrinou in Brussels contributed.
(END) Dow Jones Newswires
November 11, 2016 15:38 ET (20:38 GMT)
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