“Early enactment is critically important because negotiations on the Trans-Pacific Partnership are nearing completion and those for the Transatlantic Trade and Investment Partnership are making significant progress. These two negotiations are the most important market-opening and standard-setting trade negotiations in many years.
“… Issues such as the development of global value chains, trans-border data flows now critical to all sectors of the U.S. economy, the need for improved discipline on foreign state-owned enterprises, and practices such as forced localization of data storage have all grown in importance in the last decade and have become significant new trade issues. New TPA legislation will give Congress the opportunity to take these new realities into account and provide appropriate direction to our negotiators.”
The NFTC was encouraged to hear U.S. Trade Representative Michael Froman’s testimony today before the Senate Finance and House Ways and Means Committees. Ambassador Froman highlighted the importance of Congress passing bipartisan TPA legislation, the Administration’s work toward a successful conclusion of the Trans-Pacific Partnership, as well as progress being made on other trade negotiations, including the Transatlantic Trade and Investment Partnership and those underway at the World Trade Organization.
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