The completion of negotiations toward the Trans-Pacific Partnership (TPP) is cause for celebration among the American Association of Port Authorities and the Consumer Electronic Associations. The National Association of Manufacturers, which has been pushing for the legislation, is happy the process is moving forward but wants to see the details.
Kurt Nagle, CEO of the American Association of Port Authorities issued this statement:
As a long supporter of trade policy based on equity and fairness, AAPA endorses the Trans-Pacific Partnership agreement between the United States and its trading partners in the Pacific.
The prosperity of the U.S. is inextricably entwined with that of the rest of the world. We believe this agreement, and others pending, will increase trade and U.S. exports. This increase in trade will provide more jobs in our ports and throughout the nation.
America’s seaports deliver vital goods, ship U.S. exports, create jobs, and support local and national economic growth. Cargo activity at U.S. ports currently accounts for over a quarter of the U.S. economy and $650 billion in personal income, supports the employment of over 23 million American workers, and generates over $320 billion in local, state and federal tax revenues. These enormous impacts will increase further due to the trade growth anticipated as a result of the TPP agreement. For every additional $1 billion in exports shipped through U.S. seaports, 15,000 U.S. jobs are created. Jobs in export-intensive industries pay up to 18 percent more, on average, than jobs in other industries.
The Trans-Pacific Partnership is good for American ports and American jobs.
Gary Shapiro CEO, Consumer Electronics Association issued this statement:
With continued expansion of the digital economy and global supply chain, international trade is a driving force of revenue for U.S. businesses large and small. CEA has long supported trade deals that reflect balanced copyright principles and the realities of the 21st Century, including the growing role of the Internet and digital economy.
In 2014, the U.S. exported $36 billion in information and communication technology products to TPP countries, and TPP eliminates import taxes as high as 35 percent on U.S. information and communication technology exports to those countries. By removing trade barriers and promoting innovation and sustainable growth across the Asia-Pacific region, the TPP stands to benefit American businesses and workers through increased exports, greater contributions to the U.S. economy and the creation of new, high-paying jobs.
We thank Ambassador Froman and the U.S. interagency negotiating team for their roles in facilitating the TPP negotiations. We are carefully reviewing the details of the agreement and look forward to working with Congress and the Administration to ensure the final results have the best interests of American businesses and workers in mind.
Jay Timmons, CEO of the The National Association of Manufacturers issued this statement:
The latest weak jobs report and the disappointing growth in the United States and globally underscore the urgent need to open new markets for manufacturers and all Americans. Today’s conclusion of the TPP agreement has the potential to reverse these trends if the deal achieves the priorities that the NAM has fought hard for years to accomplish. A good deal must level the playing field and improve the competitiveness of manufacturers and their workers in the United States.
While we are still reviewing the full terms of the TPP, manufacturers are appreciative of the tireless work of U.S. Trade Representative Michael Froman and the entire U.S. negotiating team. From the beginning, manufacturers have been loud and clear on the TPP: A strong agreement must embrace priorities that will grow manufacturing in the United States. Those priorities include concrete new market access, the protection of intellectual property, provisions to enable e-commerce and a level playing field, fair treatment and strong property and investment protection standards, all of which must be enforceable for all industries. We look forward to examining all of the details of this agreement to assess whether it will significantly enhance manufacturers’ ability to grow and compete on a level playing field.