And we have very broad convergence with the Europeans on what we think would be an effective global framework that will avoid that risk.

WHITEHOUSE: Press Briefings

The APEC conference that we're hosting here is going to have some very concrete deliverables around issues like regulatory convergence, which permits countries to all think about whether our regulations are as efficient, as effective as they can be, or where are they standing in the way of smart trade.

WHITEHOUSE: President Obama at the APEC Business Summit