How the Trans- Pa­cific Part­ner­ship Boosts Ex­ports, Sup­ports Jobs, and Pro­tects Work­ers

Thai-American Business (T-AB) Magazine - - Contents - Source: The White House, Of­fice of the Press Sec­re­tary

On Oc­to­ber 5, the United States reached agree­ment with its eleven part­ner coun­tries, con­clud­ing ne­go­ti­a­tions of the Trans- Pa­cific Part­ner­ship The Trans- Pa­cific Part­ner­ship ( TPP) is a new, high- stan­dard trade agree­ment that lev­els the play­ing field for Amer­i­can work­ers and Amer­i­can busi­nesses, sup­port­ing more Made in Amer­ica ex­ports and higher- pay­ing Amer­i­can jobs. By elim­i­nat­ing over 18,000 taxes – in the form of tar­iffs – that var­i­ous coun­tries put on Made in Amer­ica prod­ucts, TPP makes sure our farm­ers, ranch­ers, man­u­fac­tur­ers, and small busi­nesses can com­pete - and win - in some of the fastest- grow­ing mar­kets in the world. With more than 95 per­cent of the world’s con­sumers liv­ing out­side our bor­ders, TPP will sig­nif­i­cantly ex­pand the ex­port of Made in Amer­ica goods and ser­vices and sup­port Amer­i­can jobs.

TPP ELIM­I­NATES OVER 18,000 DIF­FER­ENT TAXES ON MADE in AMER­ICA EX­PORTS

TPP lev­els the play­ing field for Amer­i­can work­ers and Amer­i­can busi­nesses by elim­i­nat­ing over 18,000 taxes that var­i­ous coun­tries im­pose on Made in Amer­ica ex­ports, pro­vid­ing un­prece­dented ac­cess to vi­tal new mar­kets in the Asia- Pa­cific re­gion for U. S. work­ers, busi­nesses, farm­ers, and ranch­ers. For ex­am­ple, TPP will elim­i­nate and re­duce im­port taxes – or tar­iffs – on the fol­low­ing Made in Amer­ica ex­ports to TPP coun­tries:

• U. S. man­u­fac­tured prod­ucts:

TPP elim­i­nates im­port taxes on ev­ery Made in Amer­ica man­u­fac­tured prod­uct that the U. S. ex­ports to TPP coun­tries. For ex­am­ple, TPP elim­i­nates im­port taxes as high as 59 per­cent on U. S. ma­chin­ery prod­ucts ex­ports to TPP coun­tries. In 2014, the U. S. ex­ported USD 56 bil­lion in ma­chin­ery prod­ucts to TPP coun­tries.

• U. S. agri­cul­ture prod­ucts: TPP cuts im­port taxes on Made in Amer­ica agri­cul­tural ex­ports to TPP coun­tries. Key tax cuts in the agree­ment will help Amer­i­can farm­ers and ranch­ers by ex­pand­ing their ex­ports, which pro­vide roughly 20 per­cent of all farm in­come in the United States. For ex­am­ple, TPP will elim­i­nate im­port taxes as high as 40 per­cent on U. S. poul­try prod­ucts, 35 per­cent on soy­beans, and 40 per­cent on fruit ex­ports. Ad­di­tion­ally, TPP will help Amer­i­can farm­ers and ranch­ers com­pete by tack­ling a range of bar­ri­ers they face abroad, in­clud­ing en­sur­ing that for­eign reg­u­la­tions and agri­cul­tural in­spec­tions are based on science, elim­i­nat­ing agri­cul­tural ex­port sub­si­dies, and min­i­miz­ing un­pre­dictable ex­port bans.

• U. S. au­to­mo­tive prod­ucts: TPP elim­i­nates im­port taxes as high as 70 per­cent on U. S. au­to­mo­tive prod­ucts ex­ports to TPP coun­tries. In 2014, the U. S. ex­ported USD 89 bil­lion in au­to­mo­tive prod­ucts to TPP coun­tries.

• U.S. in­for­ma­tion and com­mu­ni­ca­tion tech­nol­ogy prod­ucts: TPP elim­i­nates im­port taxes as high as 35 per­cent on U. S. in­for­ma­tion and com­mu­ni­ca­tion tech­nol­ogy ex­ports to TPP coun­tries. In 2014, the U. S. ex­ported USD 36 bil­lion in in­for­ma­tion and com­mu­ni­ca­tion tech­nol­ogy prod­ucts to TPP coun­tries.

TPP IN­CLUDES THE STRONG­EST WORKER PRO­TEC­TIONS OF ANY TRADE AGREE­MENT in HISTORY

TPP puts Amer­i­can work­ers first by es­tab­lish­ing the high­est la­bor stan­dards of any trade agree­ment in history, re­quir­ing all coun­tries to meet core, en­force­able la­bor stan­dards as stated in the In­ter­na­tional La­bor Or­ga­ni­za­tion’s ( ILO) Dec­la­ra­tion on Fun­da­men­tal Prin­ci­ples and Rights at Work.

The fully- en­force­able la­bor stan­dards we have won in TPP in­clude the free­dom to form unions and bar­gain col­lec­tively; pro­hi­bi­tions against child la­bor and forced la­bor; re­quire­ments for ac­cept­able con­di­tions of work such as min­i­mum wage, hours of work, and safe work­place con­di­tions; and pro­tec­tions against em­ploy­ment dis­crim­i­na­tion. Th­ese en­force­able re­quire­ments will help our work­ers com­pete fairly and re­verse a sta­tus quo that dis­ad­van­tages our work­ers through a race to the bot­tom on in­ter­na­tional la­bor stan­dards.

In fact, TPP will re­sult in the largest ex­pan­sion of fully- en­force­able la­bor rights in history, in­clud­ing rene­go­ti­at­ing NAFTA and bring­ing hun­dreds of mil­lions of ad­di­tional peo­ple un­der ILO stan­dards – lev­el­ing the play­ing field for Amer­i­can work­ers so that they can win in the global econ­omy.

TPP IN­CLUDES THE STRONG­EST EN­VI­RON­MEN­TAL PRO­TEC­TIONS OF ANY TRADE AGREE­MENT in HISTORY

TPP in­cludes the high­est en­vi­ron­men­tal stan­dards of any trade agree­ment in history. The agree­ment up­grades NAFTA, putting en­vi­ron­men­tal pro­tec­tions at the core of the agree­ment, and making those

obli­ga­tions fully en­force­able through the same type of dis­pute set­tle­ment as other obli­ga­tions.

TPP re­quires all mem­bers to com­bat wildlife traf­fick­ing, il­le­gal log­ging, and il­le­gal fish­ing, as well as pro­hibit some of the most harm­ful fish­ery sub­si­dies and pro­mote sus­tain­able fish­eries man­age­ment prac­tices. TPP also re­quires that the 12 coun­tries pro­mote long- term con­ser­va­tion of whales, dol­phins, sharks, sea tur­tles, and other marine species, as well as to pro­tect and con­serve iconic species like rhi­nos and ele­phants. And TPP cracks down on ozone- de­plet­ing sub­stances as well as ship pol­lu­tion of the oceans, all while pro­mot­ing co­op­er­a­tive ef­forts to ad­dress en­ergy ef­fi­ciency.

TPP HELPS SMALL BUSI­NESSES BEN­E­FIT FROM GLOBAL TRADE

For the first time in any trade agree­ment, TPP in­cludes a chap­ter specif­i­cally ded­i­cated to help­ing small- and medium- sized busi­nesses ben­e­fit from trade. Small busi­nesses are one of the pri­mary driv­ers of job growth in the U. S., but too of­ten trade bar­ri­ers lock small busi­nesses out of im­por­tant for­eign mar­kets when they try to ex­port their Made in Amer­ica goods. While 98 per­cent of the Amer­i­can com­pa­nies that ex­port are small and medium- sized busi­nesses, less than 5 per­cent of all Amer­i­can small busi­nesses ex­port. That means there’s huge un­tapped po­ten­tial for small busi­nesses to ex­pand their busi­nesses by ex­port­ing more to the 95 per­cent of global con­sumers who live out­side our bor­ders.

TPP ad­dresses trade bar­ri­ers that pose dis­pro­por­tion­ate chal­lenges to small busi­nesses, such as high taxes, overly com­plex trade pa­per­work, cor­rup­tion, cus­toms “red tape,” re­stric­tions on in­ter­net data flows, weak lo­gis­tics ser­vices that raise costs, and slow de­liv­ery of small ship­ments. TPP makes it cheaper, eas­ier, and faster for Amer­i­can small busi­nesses to get their prod­ucts to mar­ket by cre­at­ing ef­fi­cient and trans­par­ent pro­ce­dures that move goods quickly across bor­ders.

TPP PROMOTES E- COMMERCE, PRO­TECTS DIG­I­TAL FREE­DOM, AND PRE­SERVES AN OPEN IN­TER­NET

TPP in­cludes cut­ting- edge rules to pro­mote in­ter­net- based commerce – a cen­tral area of Amer­i­can lead­er­ship, and one of the world’s great op­por­tu­ni­ties for growth. The agree­ment also in­cludes strong rules that make sure the best in­no­va­tion, not trade bar­ri­ers and cen­sor­ship laws, shapes how dig­i­tal mar­kets grow. TPP helps pre­serve the sin­gle, global, dig­i­tal mar­ket­place.

TPP does this by pre­serv­ing free in­ter­na­tional move­ment of data, en­sur­ing that in­di­vid­u­als, small busi­nesses, and fam­i­lies in all TPP coun­tries can take ad­van­tage of on­line shop­ping, com­mu­ni­cate ef­fi­ciently at low cost, and ac­cess, move, and store data freely. TPP also bans “forced lo­cal­iza­tion” - the dis­crim­i­na­tory re­quire­ment that cer­tain gov­ern­ments im­pose on U. S. busi­nesses that they place their data, servers, re­search fa­cil­i­ties, and other ne­ces­si­ties over­seas in or­der to ac­cess those mar­kets.

TPP in­cludes stan­dards to pro­tect dig­i­tal free­dom, in­clud­ing the free flow of in­for­ma­tion across bor­ders - en­sur­ing that in­ter­net users can store, ac­cess, and move their data freely, sub­ject to pub­lic- in­ter­est reg­u­la­tion, for ex­am­ple to fight spam­ming and cy­ber- crime.

TPP LEV­ELS THE PLAY­ING FIELD FOR U. S. WORK­ERS BY DIS­CI­PLIN­ING STATE- OWNED EN­TER­PRISES ( SOES)

TPP pro­tects Amer­i­can work­ers and busi­nesses from un­fair com­pe­ti­tion by state- owned com­pa­nies in other coun­tries, who are of­ten given pref­er­en­tial treat­ment that al­lows them to un­der­cut U. S. com­peti­tors. This in­cludes the first- ever dis­ci­plines to en­sure that SOES com­pete on a com­mer­cial ba­sis and that the ad­van­tages SOES re­ceive from their gov­ern­ments, such as un­fair sub­si­dies, do not have an ad­verse im­pact on Amer­i­can work­ers and busi­nesses.

TPP PRI­OR­I­TIZES GOOD GOV­ER­NANCE AND FIGHT­ING COR­RUP­TION

TPP in­cludes the strong­est stan­dards for trans­parency and an­ti­cor­rup­tion of any trade agree­ment in history. As such, TPP strength­ens good gov­er­nance in TPP coun­tries by re­quir­ing them to rat­ify or ac­cede to the U. N. Con­ven­tion Against Cor­rup­tion ( UNCAC), com­mit to adopt or main­tain laws that crim­i­nal­ize brib­ing pub­lic of­fi­cials, adopt mea­sures to de­crease con­flicts of in­ter­est, com­mit to ef­fec­tively en­force an­ti­cor­rup­tion laws and reg­u­la­tions, and give cit­i­zens the op­por­tu­nity to pro­vide in­put on any pro­posed mea­sures re­lat­ing to is­sues cov­ered by the TPP agree­ment. TPP also re­quires reg­u­la­tory trans­parency poli­cies based on stan­dard U. S. prac­tice.

TPP IN­CLUDES FIRST EVER DE­VEL­OP­MENT CHAP­TER

For the first time in any U. S. trade agree­ment, TPP in­cludes stand- alone chap­ters ded­i­cated to de­vel­op­ment and ca­pac­i­ty­build­ing, as well as a wide range of com­mit­ments to pro­mote sus­tain­able de­vel­op­ment and in­clu­sive eco­nomic growth, re­duce poverty, pro­mote food se­cu­rity, and com­bat child and forced la­bor.

TPP CAP­I­TAL­IZES ON AMER­ICA’S PO­SI­TION AS THE WORLD LEADER in SER­VICES EX­PORTS

TPP lifts com­plex re­stric­tions and bans on ac­cess for U. S. busi­nesses – in­clud­ing many small busi­nesses – that ex­port Amer­i­can ser­vices like re­tail, com­mu­ni­ca­tions, lo­gis­tics, en­ter­tain­ment, soft­ware and more. This im­proved ac­cess will un­lock new eco­nomic op­por­tu­ni­ties for the U. S. ser­vices in­dus­try, which cur­rently em­ploys about 4 out of ev­ery 5 Amer­i­can work­ers.

TPP lev­els the play­ing field for Amer­i­can work­ers and Amer­i­can busi­nesses by elim­i­nat­ing over 18,000 taxes that var­i­ous coun­tries im­pose on Made in Amer­ica ex­ports.

Newspapers in English

Newspapers from Thailand

© PressReader. All rights reserved.