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US Secretary of Commerce slams Trans-Pacific Partnership critics
THE Trans-Pacific Partnership Agreement is the "toughest trade agreement out there in the world", said US Commerce Secretary Penny Pritzker in response to critics of free trade agreements who don't recognise how such accords open trade benefits.
"Can you pick holes in the agreement? Of course, any negotiation there's a give and take. But frankly the idea that 12 countries have come together and said, 'we're going to lower tariffs, we're going to raise labour standards, is positive."
Trade agreements are especially critical for small- and medium-size businesses so they can access foreign markets, where 95 per cent of the world's customers and some of the fastest growing economies exist, she said during an appearance on MSNBC's "Morning Joe" programme, reported American Shipper.
Removing trade barriers, lowering tariffs and elevating labour and environmental standards makes American workers and products more globally competitive, argued Ms Pritzker.
More than 11.5 million jobs depend on exports, and the TPP will help American firms reach the mushrooming middle class in Asia Pacific, which is expected to grow from 500 million to 3.2 billion in the next 15 years.
In regards to cross-border trade with Mexico, Ms Pritzker added: "I think there's a lack of understanding of how integrated our supply chain is and how many products we make together."
"Can you pick holes in the agreement? Of course, any negotiation there's a give and take. But frankly the idea that 12 countries have come together and said, 'we're going to lower tariffs, we're going to raise labour standards, is positive."
Trade agreements are especially critical for small- and medium-size businesses so they can access foreign markets, where 95 per cent of the world's customers and some of the fastest growing economies exist, she said during an appearance on MSNBC's "Morning Joe" programme, reported American Shipper.
Removing trade barriers, lowering tariffs and elevating labour and environmental standards makes American workers and products more globally competitive, argued Ms Pritzker.
More than 11.5 million jobs depend on exports, and the TPP will help American firms reach the mushrooming middle class in Asia Pacific, which is expected to grow from 500 million to 3.2 billion in the next 15 years.
In regards to cross-border trade with Mexico, Ms Pritzker added: "I think there's a lack of understanding of how integrated our supply chain is and how many products we make together."
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