U.S. Chamber Welcomes TPP Leaders' Statement as a 'Positive Step Forward'

Donohue Calls on Nine Countries to Complete an Agreement That's
'Comprehensive, Enforceable, and Makes Room for New Entrants'

HONOLULU, HI -- U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement today after leaders from the nine Trans-Pacific Partnership negotiating countries announced that they reached the broad outlines of an agreement:

"The American business community welcomes this positive step forward. An important step to unlocking global economic growth will be expanding trade in the Asia-Pacific, and the TPP holds this key. We hope that leaders from these nine countries now move swiftly on an ambitious timeline to complete an agreement that is comprehensive, enforceable, and makes room for new entrants.

"A robust agreement that not only eliminates tariffs but addresses regulations, intellectual property rights, and other impediments to fair and open markets has the potential to generate new American exports and jobs.

"The United States is behind the eight ball in Asia. Now is the time to think big. It's time to be bold and to build on the momentum created by the passage of free trade agreements with South Korea, Colombia, and Panama. While today's announcement is welcome, the Chamber urges further substantial progress as quickly as possible. Expanding trade represents one of the best ways to create jobs without raising taxes or increasing the deficit and Americans who are urgently seeking work cannot afford to wait."

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.