February 12, 2016.
US Rep. Kevin Brady, and US Sen. Orrin Hatch
The Trans Pacific Partnership was signed in Auckland, New Zealand on February 4th.
U.S. Chamber of Commerce Executive Vice President and Head of International Affairs Myron Brilliant said “History shows that if we don’t move ahead on trade, we’ll be left behind. Other nations understand this: While the ink is barely dry, the TPP is already drawing interest from other Asia-Pacific economies that want to follow its ‘race-to-the-top’ recipe for trade and growth. At the same time, the Chamber continues to encourage the administration to work with Congress to address legitimate concerns expressed by industry and legislators. Doing so is critical to our efforts to secure strong bipartisan approval of the agreement.
House Ways and Means Committee Chairman Kevin Brady (R-TX) commented: “A good TPP agreement will benefit the U.S. economy and create jobs at home. Members of Congress continue to raise significant questions about this agreement to make sure it is best for America. The Administration has a responsibility to address these concerns if it expects Congress to ultimately support and move forward with TPP.”
Senate Finance Committee Chairman Orrin Hatch (R-UT) said: “I’m quite certain the President wants to get a strong TPP agreement passed as soon as possible. I share that goal. But, Congress has a history of taking the time necessary to consider and pass trade agreements, and the process set out under TPA demands that we do so. Despite a number of claims to the contrary, Congress does not rubber stamp trade agreements and we will not do so in this case.”
On February 4, U.S. Trade Representative Michael Froman and the trade ministers for 11 other Asia-Pacific nations signed the Trans-Pacific Partnership (TPP) in Auckland, New Zealand. At the ceremony, the ministers issued a joint declaration that reads in part:
“The signing of the agreement signals an important milestone and the beginning of the next phase for TPP. Our focus now turns to the completion of our respective domestic processes. We recognize the interest shown by a number of other economies throughout the region. This interest affirms our shared objective, through TPP, of creating a platform that promotes high-standards for broader economic integration in the future.”