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by Clare Quinn, Office of Intergovernmental Affairs and Public Engagement
This week, Deputy U.S. Trade Representative Miriam Sapiro traveled to Berlin, Germany, where she participated in a panel discussion at the John F. Kennedy Atlantic Forum, which marked the 50th anniversary of John Kennedy’s 1963 Berlin speech and highlighted entrepreneurship in the Transatlantic Community. Ambassador Sapiro spoke about how the Transatlantic Trade and Investment Partnership (TTIP) agreement will help grow and support jobs on both sides of the Atlantic. She also addressed the themes of continued strength in U.S.-German relations, President Obama’s ambitious trade agenda, and the importance of German support for a successful TTIP. The Forum consisted of two panels: one in which the guests weighed in on the global challenges and dimensions of entrepreneurship, and another which focused on the effects, progress, and future of the transatlantic relationship. Participants included Senator for Economics, Technology, and Research Cornelia Yzer, President of UPS International James Barber, and President & CEO of GE Europe Ferdinando Beccalli-Falco.
Ambassador Sapiro also discussed the foundation for a successful TTIP, as the first round of negotiations is scheduled to occur the week of July 8th in Washington, D.C. She commented that barriers to trade remain rooted in the ways our nations regulate their economies. Continued German leadership is crucial in order to achieve a successful agreement that benefits economies on both sides of the Atlantic. This agreement will further deepen the transatlantic relationship, spurring growth in the U.S. economy.
Global trade has transformed the world we live in today, supporting economic growth and U.S. jobs. During her remarks, Ambassador Sapiro focused on how the strong U.S.-German alliance is crucial to the continuance of that economic growth. In 2012, every $1 billion in exported goods supported an estimated 5,400 U.S. jobs, while every $1 billion in exported services supported 4,000 jobs. With $75 billion in U.S. goods and services exports to Germany and $134 billion in goods and services imports, Germany is currently our 5th largest goods trading partner. The U.S. and EU’s transatlantic economic relationship accounts for 50% of global GDP and 30% of global trade. There are an estimated 13 million United States and European jobs supported by this trade and investment relationship. The U.S. and Germany have a clear common interest to find a level playing field in which our nations compete and win in the global economy. The importance of U.S. exports to our nation’s economy underlies President Obama’s ambitious trade and investment agenda.