Obama: Asian trade pacts open markets for US, help economy

The president delivered his weekly address from Indonesia, the last stop on his nine-day swing, during which he announced trade deals that will "support nearly 130,000 American jobs," he said.

"These agreements will help us reach my goal of doubling American exports by 2014 – a goal we’re on pace to meet," Obama said. "And they’re powerful examples of how we can rebuild an economy that’s focused on what our country has always done best – making and selling products all over the world that are stamped with three proud words: 'Made In America.'"

The president said America needs to rebuild its manufacturing base to help an economy that has "relied too much on what we bought and consumed."

Obama said that he was confident the U.S. has the tools it needs to compete in the global economy.

"We may be going through tough times, but as I’ve said time and time again, the United States still has the world’s most dynamic economy, the finest universities, the most innovative companies, and the hardest-working people on Earth," he said. "We can compete against anybody – and we can win."