Today, U.S. Secretary of Commerce Penny Pritzker issued the following statement on the release of the U.S. International Trade Commission report on the potential economic impact of the Trans-Pacific Partnership (TPP).
"Today's U.S. International Trade Commission report confirms the positive impact that the Trans-Pacific Partnership will have on U.S. businesses, workers, and families. The report finds that TPP will increase exports of the world-class, Made-in-America products and services offered by American companies, and improve our nation's Gross Domestic Product.
"The TPP will expand access to the more than 500 million consumers that reside in some of the world's fastest-growing markets and provide a level playing field for U.S. businesses and workers to contend with their global competitors.
"The Department of Commerce continues to provide data that demonstrates the potential impact TPP can have on individual states and industry sectors. We remain committed to being a long-term partner for U.S. businesses of all sizes to help them seize the economic opportunity as TPP is passed and implemented." Since 2009, U.S. goods exports to TPP countries have increased by 59 percent, while services exports to these markets have expanded 35 percent. TPP markets accounted for 45 percent of total U.S. goods exports in 2014, and 43 percent of all U.S. jobs supported by goods exports can be attributed to these countries.
Source: U.S. Department of Commerce
