With a view to promote exports and create new economic opportunities, the US Senate approved and passed the Bipartisan Trade Bill on 18th June 2015. This was well received by the AAPA (American port alliance).
The TPA-2015 aims to boost American exports by practicing rigid rules for international trade negotiations with more transparent trade agreements. AAPA President and CEO Kurt Nagle pointed out that, “it is primarily the ports that provide critical transportation infrastructure for movement of American exports and imports”, thus, the introduction of the bipartisan, bicameral trade legislation comes at a time when this can boost the economic opportunities and create additional well-paying jobs nationwide in America.
AAPA is hopeful that this will herald the beginning of negotiating international trade agreements, including the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP), both of which the AAPA supports.
Working in consultation with Congress, the Administration is pursuing the following agenda:
- The United States is negotiating agreements with 11 Asia-Pacific economies, 28 Member countries of the European Union, 22 other countries for a trade in services agreement (TISA) and 161 Members of the World Trade Organization.
- Combined, if successful, U.S. negotiations with the Asia-Pacific and the EU presents an opportunity to set high standards and open markets with nearly 1 billion consumers, covering nearly two-thirds of global GDP and 65% of global trade. Service negotiations cover about 50% of global GDP and over 70% of global services trade.
- Renewing TPA, which expired in 2007, is necessary to get the best result in these negotiations for American workers, farmers and businesses consistent with Congressional priorities.
Extracted from the overview of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, prepared by the staffs of the Ways and Means Committee and Senate Finance Committee.