Singaporean Prime Minister Lee Hsien Loong on Aug. 1 said anti-trade rhetoric in the United States is "understandable, even valid" in some cases, but warned that failure to ratify the Trans-Pacific Partnership this year - or renegotiating it - would lead to the deal falling apart. "The American people are wary of U.S. global engagement; these are all understandable, even valid concerns," Lee said at an event hosted by the U.S. Chamber of Commerce. "But we hope that all parties will focus on the longer term [gain]. Because there are no winners, only losers with protectionism."
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