Recently only the National Retail Federation reported that Trans-Pacific Partnership (TPP) trade agreement will have a ‘positive impact’ on both retailers and consumers of the United States of America. And today…, the federation welcomed a new report from the US International Trade Commission confirming that the trade deal would surely prove fruitful for the US economy.
Also Read – TPP to have ‘positive impact’ on retailers & consumers: NRF
According to the Commission’s study, enactment of TPP would lift US annual real income by US $ 57.3 billion over 15 years, improve gross domestic product by US $ 42.7 billion and create 128,000 more jobs. Exports to countries covered under the agreement would increase by US $ 34.6 billion and imports would surge US $ 23.4 billion.
“Retailers welcome this report as further confirmation that tearing down barriers to trade benefits everyone. TPP will open up new international markets for US-produced goods, provide consumers with more choices, lower prices by removing tariffs and boost our nation’s overall economy. Consensus is growing that Congress needs to act swiftly to approve this landmark trade agreement,” said David French, Senior Vice President for Government Relations – NRF, which is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, wholesalers, and Internet retailers from the United States and more than 45 countries.
