Obama says trade deal lets US write the rules, not China

BEAVERTON, Ore. (AP) — President Barack Obama argued forcefully today for a pending international trade agreement, saying the U.S. must write the rules for global commerce now, while it's in a position of economic strength, or lose out.

"If we don't write the rules for trade around the world, guess what? China will," Obama said, making his case at the Oregon headquarters of the athletic apparel and footwear company Nike. "And they'll write those rules in a way that gives Chinese workers and Chinese businesses the upper hand."

Nike was a curious choice for the president's speech, given criticism of its labor practices over the years.

But the company today pledged to create up to 10,000 jobs in the U.S. over the next decade with its manufacturing partners if Congress gives Obama "fast-track" trade negotiating authority that ultimately leads to the 12-country Trans-Pacific trade deal.

Nike said the trade deal would allow it to take advantage of lower tariffs on shoes and speed up investments in footwear manufacturing in the U.S.