Of Global GPD Covered Under The TPP
The size, in dollars, of Asian import markets by 2020.
Of Consumers Live Outside Of The U.S.
The Trans-Pacific Partnership (TPP) is an ambitious and potentially groundbreaking trade agreement negotiated, but not yet approved, by the United States and 11 other countries in the Asia-Pacific region comprising almost 40% of global GDP. With total trade in 2015 between the U.S. and TPP countries exceeding $1.7 trillion in goods and $260 billion in services, TPP has the potential to become the largest U.S. regional trade agreement in history.
What Is The TPP?
Why Should I Care About The TPP?
The Benefits of Trade are Clear: Better Jobs, Higher Wages, Lower Costs for American Families, and Increased Customers for U.S. Goods and Services.
- More than 1 in 5 U.S. jobs depends on trade.
- Jobs in trade are higher value jobs that pay U.S. workers more.
- American families face lower costs on goods they already consume.
- American families face lower costs on goods they already consume
U.S. businesses increase their consumer base when they look to the 95% of global customers that are beyond U.S. borders.
The TPP affords the U.S. unparalleled reach to the world’s fastest growing economies.
- There are 490 million potential customers for U.S. goods and services in the TPP, but we compete for business.
- Without the TPP, U.S. share of the import market in Asia – which declined from 12.2% in 2000 to 6.2% in 2014 – will continue to decline.
- Trade agreements in Asia are proliferating, but the United States is party to only three – Australia, Singapore and Korea. TPP changes that.
The TPP is a pivotal opportunity for U.S. global leadership.
- TPP expands and enhances American leadership in the Asia-Pacific region.
- Greater U.S. economic engagement brings countries closer together and enhances national security.
- Failure to approve TPP will create a void that others will fill by establishing lower standard, weaker trade agreements that exclude the United States.
The TPP, and trade, effects every state. Use the map on the right to find out how much your state already benefits from trade with TPP countries.
The TPP And You