During this past week, some of America’s most important Pacific trading partners converged in San Diego for another round of discussions to negotiate expanded trade in the Pacific region. The Trans-Pacific Partnership (TPP) trade pact presents strong growth opportunities for American workers and the overall economy.
As one of the largest employers and most important U.S. industries, our auto industry, and by extension the U.S. economy, stands to benefit from this.
The TPP is a pan-Pacific regional trade agreement being negotiated between the United States and eight other Pacific-rim countries: Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.
The current nine negotiating members have worked together to design an international agreement with the goal of liberalizing economies and commerce throughout the pan-Pacific region. TPP is intended to increase the exchange of goods and services among countries committed to open markets.
If successful, this would be a win-win for each nation – including creating much-needed jobs here at home.