business backgrounder | economy time for action
While years of negotiations led to a final TPP document, it won’ t take effect until ratified by Congress.
It’ s time for Congress to act and approve the TPP, said Eric Schinfeld, president of the Washington Council on International Trade.
“ As this study indicates, every year we do not implement the TPP is another year we are losing out on opportunities to reach our full economic potential,” Schinfeld said.“ We already lost up to $ 8.7 billion and 26,000 direct jobs by not having the agreement in place. It’ s urgent that Congress approve the agreement this year. The TPP is our opportunity to improve the way the world trades and create new opportunities for Washington employers and workers.”
AWB president Kris Johnson agrees, saying TPP would be good for employers of all sizes by strengthening Washington’ s already vital export economy.
“ This study confirms that the best approach to growing our state’ s economy is to strengthen our trade ties and thoughtfully break down foreign barriers for Washington exporters,” Johnson said.“ Because 40 percent of Washington jobs are connected to trade and our state already has such strong economic ties to the Asia-Pacific region, Washington would benefit greatly from the passage of TPP.”
From Washington apples to beef, software to airliners, the Trans-Pacific Partnership will benefit Washington’ s export industries— and the people they employ.
Washington Council on International Trade’ s TPP backgrounder wcit. org / tpp /
Wins for Washington study bit. ly / 2016TPPstudy
“ This study confirms that the best approach to growing our state’ s economy is to strengthen our trade ties and thoughtfully break down foreign barriers for Washington exporters. Because 40 percent of Washington jobs are connected to trade and our state already has such strong economic ties to the Asia-Pacific region, Washington would benefit greatly from the passage of TPP.”
— Kris Johnson, president, AWB fall 2016 49