Smith Statement on the Announcement of an Agreement for the Outline of the Trans-Pacific Partnership
Nov 12, 2011 -
U.S. Congressman Adam Smith (WA-09), Ranking Member of the House Armed Services Committee and co-chair of the New Democrat Coalition Trade Task Force, made the following statement after the announcement of the broad outlines of a Trans-Pacific Partnership (TPP) agreement among the United States, Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam:
"Today, with the announcement of a framework for the Trans-Pacific Partnership, the President has taken a significant step forward in expanding U.S. trade that will improve our national and local economies. With nearly one in three jobs related to trade in Washington State, a regional agreement would help increase access for our local exporters. It would also bring us closer to doubling American exports by the end of 2014, a goal set by the President’s National Export Initiative. Based on the goals set forward, a successfully concluded TPP agreement would reduce barriers for U.S. goods to the world’s fastest growing economic region. Opening new markets in Asia would create new sources of job creation and economic growth, particularly in the Pacific Northwest.
"Looking out at the foreign policy landscape, the countries of the Asian Pacific region will continue to be strategic partners in the years ahead and it is in our interests to boost our engagement in the region through measures that improve diplomacy, development, trade, and security. Pursuing a 21st Century trade agreement that our advances economic ties with the region is solid progress in this process toward better relations.
"This framework for a 21st Century trade agreement lays out a new approach – one that incorporates high labor standards, promotes innovation, helps small and medium sized businesses participate, reduces costs for utilizing green goods and services, and allows our country to more actively compete in international markets especially against state-owned enterprises. Going forward, I will continue to monitor the development of this agreement to ensure that it is the best deal possible for the American people."