On Oct. 5, trade ministers from the United States and 11 Pacific Rim nations reached an agreement regarding the Trans-Pacific Partnership (TPP) – the largest regional trade accord in history.
After years of negotiation, the TPP will eliminate over 18,000 import tariffs that various countries impose on exports made in America. It will also include: the strongest worker and environmental protections of any trade agreement, help small businesses benefit from trade, promote e-commerce while preserving an open internet, and ensure American workers and businesses can thrive in ever-expanding global markets.
“[The agreement] strengthens our strategic relationships with our partners and allies in a region that will be vital to the 21st century,” said President Obama. “It’s an agreement that puts American workers first and will help middle-class families get ahead.” The White House has also stated that with more than 95 percent of America’s potential customers living outside of the United States, it is critical we write the rules before China beats us to it.
Once finalized, the text of the partnership will be available to Congress and the American people for 60 days prior to the President signing it and submitting it to Congress for approval or disapproval. Congress is expected to consider the agreement sometime during the first half of 2016.
Throughout 2015, Portland Business Alliance, PNITA, Port of Portland and other partners will raise awareness for Oregon’s strength in global markets and for the state’s dependence on trade to fuel the economy and family-wage jobs. The campaign coincides with congressional consideration of several trade-related measures, such as the Trans-Pacific Partnership and Trade Promotion Authority. This web page will regularly list information about the specific impact of trade to our region’s vitality, educational events and trips, and proposed trade legislation. Read the press release.
To support efficient trade for Oregon, please ask your elected officials to support trade-related measures in Congress. Find your elected official.
One of the Portland Business Alliance’s main areas of focus is supporting the region’s international trade activity. The Alliance does this through its affiliate organization, Pacific Northwest International Trade Association. For more information about the Alliance's international trade efforts or the Pacific Northwest Internation Trade Association, contact Doug Badger, PNITA Executive Director, by email or call 503.260.3235.
The Portland Business Alliance, PNITA and the Port of Portland advocate for federal policies and legislation and international trade agreements that make Oregon businesses and employees more competitive in global markets. In the coming year, the Administraton and Congress will be urged to work together to approved four trade-related items. Read more >>
In order to strengthen the region's trade relationships, PNITA and the Alliance organize trade missions to strategic trade partner countries. To date, the Alliance and PNITA have conducted trade missions to Brazil, Germany and China and is planning a trip to United Kingdom & France in 2015. Read more >>
For details about past or future missions, read more on the trade missions blog.
PNITA and the Alliance in partnership with the Value of Jobs Coalition have commissioned several reports about international trade and its importance to the Portland-metro and Oregon economies. Along with these reports, there are also several reports that have been produced by our partners. Read more >>