One fundamental value of the United States is that everyone can achieve the American dream. Regardless of where or how we grew up, what we believe or what we look like, Americans hold fast to the belief that we can all succeed. As our country has grown larger and more diverse, we have come to recognize that success is more accessible for some than others. To combat this, a number of our domestic policies focus on ways to level the playing field in order to maintain and restore equal access to the American dream.
Global enterprise is another area where some can achieve success more rapidly than others due to advantages provided to them. To rectify these inequities, our country enters into trade agreements with other nations to provide American goods and products with access equivalent to domestic providers in foreign markets. One such trade agreement, the Trans-Pacific Partnership, was recently concluded and is awaiting consideration by Congress. The TPP was negotiated with 11 Asian-Pacific nations and would help American businesses better compete in some of the world’s largest markets.
The TPP is set to eliminate more than 18,000 taxes that currently apply to American goods sold in these markets. In 2014, more than 40 percent of all California exports, including 44 percent of San Diego exports, went to TPP countries. Imagine how much more we could sell to these nations with the removal of crippling tariffs and other regulations that make American goods more costly for Asia-based consumers.
San Diego, in particular, is well poised to capitalize on benefits of the TPP. With our location on the Pacific Ocean and our economic focus in telecommunications, San Diego businesses have direct access to Asian markets and provide highly sought after goods and services.
It all comes back to ensuring the rules are fair for all who play. Implementation of this groundbreaking trade agreement would put American businesses in contention like never before. And when America can compete, we know we can win.
ACTION ALERT: The Chamber urges all members to take a moment to learn how the TPP will benefit their business and sign-on to the Chamber’s open letter of support.