Washington DC– The National Foreign Trade Council(NFTC) today welcomed the U.S. International Trade Commission (ITC) report on the Trans-Pacific Partnership (TPP).
“The release of the ITC report on the TPP should help to pave the way for Congressional approval of the agreement,” said NFTC President Rufus Yerxa. “As with all trade agreements, there are sectors that stand to benefit more than others, but overall this report supports the proposition that the TPP is in our overall national interest. It will have positive benefits in increasing exports and promoting the competitiveness of American companies. It is also important to remember that much of the ITC’s analysis rests on measuring the benefits of tariff elimination, and this is only part of the story. The broader and more long-term benefits of the TPP flow from the creation of a more level playing field, with new rules and disciplines in areas such as the digital economy, services trade, intellectual property and state-owned companies. These new and more dynamic non-tariff rules will help to shape trade and investment throughout the Asia Pacific in a manner more consistent with the long-term goal of achieving freer but fairer trade.”
“The TPP is a critically important agreement that will help to expand U.S. access to an increasingly diverse and competitive market, and we are committed to working with policymakers to pass TPP this year,” said Chuck Dittrich, NFTC Vice President for Regional Trade Initiatives. “The ITC report also reminds us that programs of worker adjustment and training along with robust enforcement mechanisms are critical pillars of U.S. trade policy, and the NFTC and its members support Administration and Congressional commitment in these areas to ensure that the United States fully realizes the opportunities created by the TPP.”
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About the NFTC
Serving America’s Global Businesses Since 1914 – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
