The Trans-Pacific Partnership(TPP) will link the United States and 11 other Pacific-region partners in a first-of-its-kind trade agreement, addressing current barriers to trade ranging from inconsistencies in intellectual property rights to counterproductive tariffs. After four years and 20-plus rounds of negotiations, the TPP is approaching completion. However, growing opposition from isolationists and an uncooperative United States Congress threaten the success of this vital move towards Asian Pacific economic integration, in turn jeopardizing countless existing and potential American jobs.
TAPP operates as a force of reason, supporting a common-sense directive for the Trans-Pacific Partnership and international trade as a whole, founded by these guiding principles.
Trade Promotion Authority is imperative for the success of the TPP.
Currently, the biggest hurdle for the TPP beyond internal negotiations is the reluctance of Congress to provide the president with Trade Promotion Authority (TPA). TPA would require Congress to approve or disapprove the treaty, without the ability to amend, assuring other participating nations that any final deal would not be altered in the process of Congressional approval.
Moving forward, we must pressure strategic members of Congress involved with issues of trade, particularly members of the Senate Finance Committee and the Ways and Means Committee of the House, to push for TPA authority.
We must protect U.S. innovation and intellectual property.
Americans are the greatest inventors and innovators the world has ever known. U.S. industries that depend on homegrown intellectual property currently account for about one in every four American jobs (40 million), 60 percent of our total exports and one-third of our GDP.
So, the United States must insist on tough standards that protect the brainpower behind what America exports into the global marketplace.
Free trade will be required to create future American jobs.
With 80 percent of the world’s purchasing power located outside of the United States, expanding free trade partnerships is no longer an option if we intend on growing the American economy. Roughly 10 million American employees rely on trade for work.
Streamlined regulation is required to accelerate the global supply chain.
Negotiators should continue to advance cooperation on regulatory issues that stand in the way of free trade and they should eliminate duplicative, trade-distorting and unnecessary barriers that could delay the smooth flow of goods amongst TPP partners.
Free trade bolsters U.S. investments abroad.
We must level the playing field with state-owned enterprises. By helping to strengthen the economies of our trading partners, private sector investments overseas support jobs here at home.
For investments to thrive, the eventual TPP agreement must guarantee U.S. companies a consistent and predictable legal environment and dispute resolution process across borders. Moreover, U.S. companies require a level playing field to compete with state-owned enterprises in TPP partner-nations.
The U.S. should insist on no special-advantage subsidies or exceptions in laws favoring businesses owned by partner-nations.