Comments in Response to Executive Order Regarding Trade Agreements Violations and Abuses
Docket No. USTR—2017—0010
Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy. Business Roundtable members lead companies that employ nearly 15 million people and produce more than $6 trillion in annual revenues. Comprising roughly one-quarter of total U.S. stock market capitalization, these companies invest more than $100 billion annually in research and development, equal to 30 percent of private U.S. research and development spending. In addition, Business Roundtable member companies pay more than $220 billion in dividends to shareholders and generate more than $400 billion in sales for small- and medium-sized businesses annually.
Business Roundtable appreciates the opportunity to provide comments and contribute to the performance review of U.S. trade and investment agreements by the Secretary of Commerce and the United States Trade Representative.
BUSINESS ROUNDTABLE KEY TRADE POLICY PRINCIPLES
As the Administration reviews the country’s trade policies, including the above referenced performance review of U.S. international trade and investment agreements, Business Roundtable recommends four key principles for expanding American economic growth and job creation through international trade and investment. Business Roundtable member companies developed these principles to guide policymakers as they seek to modernize and strengthen existing U.S. trade agreements, facilitate the completion of new trade agreements that will improve the competitiveness of U.S. companies and their workers and ensure strong and effective enforcement of U.S. trade laws and trade agreements. Specifically, Business Roundtable companies believe that:
1. Trade is a pillar of U.S. economic policy, and U.S. economic growth and jobs depend on domestic policy initiatives as well as expanded trade opportunities with other countries.
2. The United States needs more trade agreements to win the race for exports and jobs and ensure that we can shape the rules of the international trading system to our advantage.
3. High-standard and modern trade agreements are critical tools that American companies and workers need to access international markets for their U.S.-produced goods and services.
4. Enforcement is essential to creating a level playing field for U.S. companies and workers, and the United States should pursue strong and effective enforcement of trade and investment agreements and U.S. trade laws, consistent with U.S. statutory requirements and international trade obligations.
For the full comments submitted to the Department of Commerce and U.S. Trade Representative, click here.