He said exports are crucial to the USA economy because 95 percent of global customers are outside the United States, and the Asia-Pacific region has many fast-growing economies that are good markets for US wine, software and many other products.
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On Monday, President Obama signed a historic free trade deal with several Asia and Pacific countries to spur trade and growth.
The multi-nation Trans-Pacific Partnership (TPP) accounting for 40 per cent of the world economy would put pressure on China to raise its environmental and labour standards, the White House has said.
The government is working hard to sell the Trans-Pacific Partnership as opponents wait to pick through the text of the 12-nation free trade agreement. Throughout this process, we communicated what’s needed to create trade opportunities for the clothing and shoe industry. Despite all the hype, it’s clear that this TPP will continue decades of one-sided trade policy that gives away USA workers’ jobs and harms our communities, while benefiting multinational corporations and the 1 percent. The TPP deal involves Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
“National Pork Producers Council (NPPC) played an active role throughout the five-plus years of negotiations”, said association President Dr. Ron Prestage, “providing USA negotiators with key information on barriers we face in the 11 other TPP countries and offering guidance on outcomes that would ensure substantial new market access benefits for USA pork in those markets”.
He says the agreement cuts the tariffs and increases preferential treatment for virtually all commodity groups.
However, the statement said that China was open to any mechanism that followed rules of the World Trade Organisation and could boost the economic integration of the region.
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It’s a tricky balancing act for multiple trade partners with competing interests. According to Politico, Clinton’s announcement is part of a “striking string of disagreements with Obama” over issues like the Keystone XL pipeline and the Affordable Care Act’s so-called Cadillac tax. “Finalising the TPP is strategically very important for our export future as the TPP countries already account for over 60% of New Zealand’s wine exports”.
