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During the President’s Export Council (PEC) meeting today, Ambassador Froman echoed President Obama’s focus on making trade a fundamental driver of America’s continuing economic recovery. Ambassador Froman joined private sector advisors, Members of Congress, and Secretary of Commerce Penny Pritzker at the White House for the meeting. The PEC is the principal national advisory committee on international trade and advises the President on government policies and programs that affect U.S. trade performance. It also promotes export expansion and provides a forum for resolving various trade-related problems in the business, industrial, agricultural, labor, and government sectors.
Ambssador Froman also reiterated the President’s call for Trade Promotion Authority, as the U.S. Trade Representative advances the Trans Pacific Partnership (TPP), Transatlantic Trade and Investment Partnership (TTIP), and other important trade agreements. He stated that initiatives to deepen trade partnerships between the U.S. and other major centers of economic activity, such as the TPP and TTIP, will be an essential pillar for future growth, jobs and economic stability. The TPP is the foundation of the Obama Administration’s economic policy in the Asia-Pacific region. Asia-Pacific markets are already key destinations for U.S. manufactured goods, agricultural products, and services suppliers, as well as a major source of global growth. TPP will level the playing field for U.S. workers and businesses and deepen trade and investment with this dynamic region by eliminating barriers, promoting transparent and consistent approaches to regulatory issues, supporting innovation, increasing the role of small and medium-sized businesses in trade, and dealing American firms and workers further into regional supply chains.
Ambassador Froman noted that negotiators are working hard to aim to complete the negotiations this year, and he is preparing for TPP leaders to meet on the margins of the October 7-8 Asia-Pacific Economic Cooperation (APEC) Leaders Meeting in Bali, Indonesia. That will be “an important milestone” in the process, and provide an opportunity for leaders of TPP countries to discuss what has been accomplished, what issues are remaining, and offer guidance to trade ministers and negotiators on how to address the outstanding issues. Ambassador Froman also noted the efforts USTR has been making to engage with the full range of U.S. stakeholders on these important negotiations, and committed to continuing those efforts as the TPP negotiations approach their conclusion.
For more information on the Trans Pacific Partnership, please click here: www.ustr.gov/tpp