Source: United States Trade Representative
Economic Benefits of the Trans-Pacific Partnership
The Trans-Pacific Partnership (TPP) levels the playing field for American workers and American businesses, leading to more Made-in-America exports and more higher-paying American jobs here at home. By cutting over 18,000 taxes various countries put on Made-in-America products, TPP makes sure our farmers, ranchers, manufacturers and small businesses can compete— and win—in some of the fastest growing markets in the world. With more than 95 percent of the world’s consumers living outside our borders, TPP will significantly expand the export of Made-in-America goods and services and support American jobs.
TPP ELIMINATES OVER 18,000 TAXES ON MADE-IN-AMERICA EXPORTS
- In TPP countries, these taxes—known as tariffs—increase prices for American exports. For example, they raise prices by up to 59 percent for U.S. autos and up to 40 percent for U.S. poultry. This puts our workers and businesses at a global competitive disadvantage.
- Eliminating these taxes on the cars, crops, and consumer goods that our workers produce will support American jobs and create new opportunities to sell to the world’s fastest-growing markets.
- Our domestic market is already open to the world. TPP tears down barriers to other markets so that we can compete.