US Treasury's Lew says passing fast track trade legislation "vital"

[WASHINGTON] US Treasury Secretary Jack Lew said on Tuesday passing bipartisan legislation to streamline the passage of free trade deals through Congress is vital.

"It will protect America's workers. It will promote America's businesses. And it will strengthen our hand as we forge trade deals that will increase middle class security in a changing global economy," Mr Lew said in prepared remarks to the SelectUSA summit, aimed at attracting foreign investment.

He said the US administration, which is working to complete major trade deals with Europe and Pacific trading partners, wanted to open markets for US exports, but added: "Let me be clear: we will only enter into trade agreements that are free, fair, and good for our workers and businesses."

REUTERS