The new Trans-Pacific Partnership (TPP) agreement reduces tariffs and trade barriers for the 12 participating countries, facilitating more trade. There are 18,000 tariffs and other barriers that will be eliminated for American products, immediately making U.S. exporters more competitive. The 12 countries are:
- United States
- New Zealand
These countries account for 800 million people, 37 percent of global GDP and 45 percent of total U.S. goods exports. Trade with these countries supports 4.2 million jobs in the U.S., and TPP is expected to increase those jobs.
Reducing barriers creates change, and change is hard. But it is our belief that with fewer barriers, trade increases, and those companies and countries with strong products and services will ultimately benefit. And so that is why we believe the TPP is a strong step forward with international trade that helps everyone.
Learn more at globalchamber.org/blog.
Doug Bruhnke is CEO and Founder of Global Chamber®