In Atlanta today -- after five-years of intense negotiations -- the United States and 11 other like-minded Pacific countries agreed to the Trans-Pacific Partnership (TPP).
The landmark agreement is a critical step forward in strengthening our economic ties and deepening our strategic relationships in the Asia-Pacific region.
TPP also includes the strongest enforceable commitments on labor and the environment of any trade agreement in history and will link together 40 percent of the world’s economy.
Following news on the conclusion of the TPP negotiations, U.S. senior officials lauded the agreement and the potential this trade partnership has to boost to the U.S. economy and to shape our economic and strategic relationships in the Asia-Pacific region long into the future.
“This partnership levels the playing field for our farmers, ranchers, and manufacturers by eliminating more than 18,000 taxes that various countries put on our products,” said President Obama. “...It promotes a free and open Internet. It strengthens our strategic relationships with our partners and allies in a region that will be vital to the 21st century. It’s an agreement that puts American workers first and will help middle-class families get ahead.”
In a statement, Secretary Kerry said, “The TPP will spur economic growth and prosperity, enhance competitiveness, and bring jobs to American shores. It will provide new and meaningful access for American companies, large and small. And by setting high standards on labor, the environment, intellectual property, and a free and open Internet, this agreement will level the playing field for American businesses and workers.”
In an effort to formalize the outcomes of the TPP agreement, negotiators will continue technical work to prepare a complete text for public release, which will include the legal review, translation, and drafting and verification of the text.
Regarding these next steps, President Obama said, “Once negotiators have finalized the text of this partnership, Congress and the American people will have months to read every word before I sign it. I look forward to working with lawmakers from both parties as they consider this agreement. If we can get this agreement to my desk, then we can help our businesses sell more Made in America goods and services around the world, and we can help more American workers compete and win.”
For more information:
- Read the statement by President Obama on the Trans-Pacific Partnership (TPP).
- Read Secretary Kerry’s Statement Successful Conclusion of Trans-Pacific Partnership (TPP) Negotiations.
- Read the Trans-Pacific Partnership Ministers’ Statement.
- Check out this new Fact Sheet on The Strategic Importance of the TPP.
- Learn more about the Trans-Pacific Partnership (TPP).