LeAnne Redick Wilson
Senior Vice President
Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.
The United States and 11 other countries have completed the Trans-Pacific Partnership (TPP), a modern trade agreement that creates new opportunities for American manufacturing and services businesses large and small to compete in a global economy. The TPP cuts over 18,000 foreign taxes on American-made products, leveling the playing field for U.S. exporters. Congress should approve the TPP this year so U.S. businesses, farmers, and workers can start to reap these benefits.
The Trans-Pacific Partnership (TPP) is an ambitious, 21st century trade agreement undertaken by the United States to make American businesses, farmers, and workers more competitive in international markets and set strong, enforceable rules for free and fair trade. The TPP is an agreement between 12 countries: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
The TPP agreement opens new opportunities for American businesses, farmers, and workers to sell goods and services to consumers in some of the fastest-growing economies in the world. With a population of nearly 500 million people and combined economy of over $10 trillion, America's 11 TPP partner countries provide a significant market for U.S. exporters.
The TPP gives American-made products a competitive edge – supporting good paying jobs here in America. U.S. exporters currently face some of the highest foreign tariffs in the world. TPP will cut over 18,000 foreign tariffs (taxes) on U.S. goods exported to the other 11 TPP countries.
The rules of the road for trade are up for grabs in Asia and around the world. If the United States doesn’t write those rules, others will – which could leave U.S. businesses, farmers, and workers behind. The TPP will promote U.S. economic and strategic leadership in an important part of the world.
The TPP represents a new opportunity for U.S. businesses to export, innovate, and grow here at home. The sooner Congress acts on the TPP, the sooner American businesses, farmers, and workers can start realizing the benefits of more open markets. We are encouraging Congress to act on the TPP this year, and hope that you will add your voice.
The Business Roundtable has analyzed the benefits of trade generally and with TPP countries to each U.S. state. The results? Trade has consistently supported growth, jobs and investment across the country, and the TPP opens the door to even more. Find out how trade benefits your state and the potential of TPP to deliver more benefits.
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