Posted at 6:20 PM
The Trans-Pacific Partnership is the cornerstone of the Obama Administration’s economic policy in the Asia Pacific, and seeks to provide new and meaningful market access for American goods and services exports. It sets high-standard rules for trade and addresses vital 21st-century issues facing the global economy.
During a roundtable discussion with Los Angeles-area business leaders, Secretary Pritzker underscored TPP’s importance to California, the United States, and the world, reiterating the high cost of inaction. In fact, the non-partisan Peterson Institute projected that failing to secure approval of the TPP now would cost the U.S. economy $94 billion each year.
Secretary Pritzker reiterated her optimism that Congress will pass TPP this year, stressing that it is the job of the Department of Commerce to keep both America open for business and ensure that the world is open for American business.