WASHINGTON, D.C.-U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement on the Trans-Pacific Partnership (TPP) trade agreement:
"The U.S. Chamber of Commerce today announces its support for the TPP and pledges to advocate for its approval by Congress. This decision follows careful review of the agreement's text and deliberation by our International Policy Committee and Board of Directors.
"Steep tariffs and other trade barriers too often deny a level playing field for U.S.-made products and services in the Asia-Pacific region. The TPP will remedy this by eliminating all tariffs on U.S. exports of manufactured goods, opening new markets for American agricultural exports, and strengthening trade in services. It will boost economic growth, provide new opportunities for small businesses, and help create American jobs.
"No trade agreement is perfect, and the TPP is no exception. However, the benefits of a trade agreement lie in how it is interpreted, implemented, and enforced. With that in mind, we're rolling up our sleeves to work with the administration, Congress and our TPP partners to ensure the agreement is implemented in a way that maximizes its commercial benefits, including market access, rules, and intellectual property protections. We intend to see this job through to the end-to the agreement's entry-into-force and beyond.
"The TPP will set new standards for trade not only for the Asia-Pacific region but for future trade agreements as well. We strongly encourage the? Obama ?administration to work with Congress to address legitimate concerns expressed by industry and legislators to achieve the highest possible standards for American workers and businesses. Working together we hope to ensure the agreement secures strong bipartisan approval."
The U.S. Chamber of Commerce is the world's largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.