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U.S. Trade Representative Highlights How Los Angeles Economy will Benefit from Trans-Pacific Partnership Agreement
USTR Froman showcases how the TPP will cut taxes for California exporters, protect U.S. film industry intellectual property, and advance American leadership in the Asia-Pacific region
Los Angeles – Today, Ambassador Froman visited Los Angeles for events focused on the local economic benefits of the Trans-Pacific Partnership (TPP). The TPP is a centerpiece of the Obama Administration’s economic agenda and will cut over 18,000 taxes various countries put on Made-in-America products; level the playing field for American workers and businesses by setting high-standards for protecting intellectual property, labor rights, the environment, and a free and open internet; and will increase American leadership in the Asia-Pacific by strengthening our relationships and setting economic rules of the road that advance U.S. interests and values.
During his trip, Ambassador Froman toured Huy Fong Foods, the original creators of sriracha and other popular sauces, where he outlined the benefits of the TPP for California’s exporters. Established thirty years ago by Vietnamese immigrant David Tran, Huy Fung Foods has recently expanded their business by exporting to 25 countries, including several TPP members. Now Huy Fung Foods, which manufactures all of their sauces in the United States in collaboration with American farmers, employs 96 people, making them a powerful example OF the economic benefits of exporting.
"TPP holds tremendous potential benefits for Southern California's diverse economy. The agreement cuts taxes on thousands of Made-in-California exports, safeguards California jobs that depend on innovation and creativity through strong intellectual property protections, and gives California small businesses and farmers improved access to fast growing Asia-Pacific markets,” Ambassador Froman said. “TPP is also our opportunity to set high standard rules on labor, innovation and the environment so that we don't allow a race to the bottom that would undercut our workers and businesses. It was great to come to LA once again to see how TPP will help small and medium-sized businesses like Hoy Fung Foods sell more Made-in-America sriracha abroad, how TPP will help promote clean tech innovators like those at the Los Angeles Cleantech Incubator export their products, and how the strong intellectual property rules in TPP will help protect jobs in the American film and music industry."
Ambassador Froman also participated in the Milken Institute Global Conference for an in-depth conversation on the Trans-Pacific Partnership. Ambassador Froman joined Ben White, chief economic correspondent and columnist for Politico, to discuss the economic merits and foreign policy advantages of the TPP deal, as well as its path forward in Congress.
To highlight the benefits the TPP will bring America’s many intellectual property content creators, Ambassador Froman joined Jean Prewitt, president and CEO of the Independent Film & Television Alliance, for a roundtable discussion about the agreement. Enacting the strong copyrights provisions in the TPP is a major priority for the American film industry, and organizations such as the Motion Picture Association of America, who have endorsed the agreement earlier this year.
“IFTA and its members were pleased to meet with Ambassador Froman to discuss the market access challenges facing the U.S. independent film and television industry in the Asia Pacific region,” said Jean Prewitt. “We appreciate the efforts of USTR negotiators to secure nondiscriminatory conditions for our product. The Transpacific Partnership Agreement, if fully implemented, promises to benefit our industry. The Intellectual Property chapter establishes a rigorous framework to protect U.S. film and television programming throughout this important region and provides important tools for enforcement of rights against infringement. In addition, the Agreement secures commitments from major trading partners to maintain market access for our programming in the critical online on demand marketplace.”
In 2015, California exported $165.4 billion of Made-in-America goods to the world, and more than 40 percent of California’s exports go to TPP countries.
For a Commerce Department fact sheet on how the TPP will benefit California, please click here.
For a White House fact sheet on the TPP please click here.