[CTC] Business groups pressure Obama, Congress to pass TPP deal

[Arthur Stamoulis]

Business groups pressure Obama, Congress to pass TPP deal
The Hill
By Vicki Needhamn
September 21, 2016
http://thehill.com/policy/finance/297083-business-groups-put-pressure-on-obama-congress-to-pass-pacific-trade-deal <http://thehill.com/policy/finance/297083-business-groups-put-pressure-on-obama-congress-to-pass-pacific-trade-deal>
 
Four powerful business groups on Wednesday kept up their pressure on Congress to speed passage of a massive Pacific trade agreement.
 
The industry leaders in technology, services, manufacturing and agriculture sent a joint letter urging President Obama and congressional leaders to work together and expedite passage of the Trans-Pacific Partnership (TPP) trade agreement this year.
 
The National Association of Manufacturers (NAM), American Farm Bureau Federation, Coalition of Services Industries and Information Technology Industry Council highlighted the importance of expanded trade to private-sector economic growth and how TPP passage would expand U.S. access to nearly 500 million consumers in the Asia-Pacific region.
"As the most productive industries in the world, our enterprises need access to new consumers and markets to sustain, let alone grow, production and good-paying jobs," they wrote.
 
"Yet, U.S. industries face increasing competition as our global competitors are benefitting from trade deals that exclude and disadvantage the United States," they said.
 
The groups said the problem is particularly severe in the Asia-Pacific where the United States has been losing market share.
 
“Without the TPP, manufacturers in the United States are losing market share to countries that already have their own agreements that disadvantage U.S. manufacturing,” said Linda Dempsey, NAM’s vice president of international economic affairs.
 
“With continuing weakness in the U.S. and global economies, our leaders must work now to forge a path forward to improve U.S. competitiveness and U.S. economic engagement,” Dempsey said.
 
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The letter notes how free trade agreements have bolstered the growth in each sector and how a TPP will raise standards across the world's fastest growing region.
 
"It is past time for our government to roll up its sleeves and work together with Congress to find a path forward," the groups wrote.
 
"Industries throughout the United States are waiting."
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