U.S. economic growth is more linked today with international trade and investment and the world marketplace than ever before. U.S. trade and investment initiatives are essential to maintaining and expanding U.S. economic growth and job creation. They open markets for American companies and workers and create enforceable rules to ensure that high U.S. standards for trade and investment are adopted globally.
With 95 percent of the world’s population and 80 percent of global purchasing power outside of the United States, America’s global competitiveness will increasingly depend on expanding U.S. trade and investment opportunities.
Business Roundtable’s trade and investment priorities include the following:
Trade Promotion Authority (TPA): TPA is a critical tool for advancing U.S. trade agreements to support U.S. economic growth and jobs, and securing approval fo TPA is a top priority for America's business leaders. As part of this commitment, Business Roundtable is leading the Trade Benefits America Coalition, a broad-based group of more than 150 business and agricultural associations and companies advocating for passage of updated TPA.
Trans-Pacific Partnership (TPP): With 12 countries participating in the negotiations, the TPP has the potential to become the largest regional U.S. trade and investment agreement ever negotiated. Business Roundtable continues to urge an ambitious and expeditious conclusion to the TPP to create more opportunities for trade and investment between the United States and the growing Asia-Pacific region. For BRT’s state fact sheets on current trade and investment between each state and the TPP countries and for an overview of the TPP, click here.
Transatlantic Trade & Investment Partnership (TTIP): The TTIP negotiations between the United States and the European Union present a historic opportunity to strengthen and expand the U.S.-EU economic relationship through the elimination of trade and investment barriers and the promotion of regulatory cooperation. Business Roundtable was an early advocate for the TTIP negotiations and believes that a comprehensive agreement has the potential to substantially support U.S. economic growth and jobs.
Trade in Services Agreement (TISA): The United States already enjoys a large trade surplus in the services sector, which includes business, professional, telecommunications, e- commerce, information, technical, insurance and financial services. Business Roundtable supports the pursuit of an ambitious agreement, which will help to facilitate greater trade in services and boost U.S. economic growth and jobs.
World Trade Organization (WTO) & Multilateral Initiatives: Actively pursuing negotiations on a WTO Trade Facilitation Agreement and an expanded WTO Information Technology Agreement (ITA) are necessary to expand world trade and investment and to help revitalize the WTO. Negotiations among like-minded countries deeply committed to expanding trade and investment, like the plurilateral Trade in Services Agreement, are also essential to promoting economic growth and jobs through trade and investment.
Bilateral Investment Treaties: Advancing negotiations on bilateral investment treaties with key trading partners, including China and India, are important steps toward strengthening economic relations with the world’s emerging markets.
Enforcement of U.S. Rights Under International Trade Agreements: Vigorously enforcing U.S. rights to open markets and nondiscriminatory treatment under existing and future international agreements is essential to ensuring that American companies, workers, farmers and consumers are treated fairly and obtain the maximum benefits from U.S. trade and investment agreements.
Export Control Reforms: Addressing U.S. regulatory impediments to exports, including outdated export controls, will help to maximize the competitiveness of U.S. exporters and enhance national security.