The Retail Industry Leaders Association (RILA) reacted today to the report released by the United States International Trade Commission (USITC) detailing the likely domestic economic impact of the Trans-Pacific Partnership (TPP).
"Retailers strongly support the elimination of trade barriers and tariffs that will come with passage of TPP," said Hun Quach, RILA vice president for international trade. “Retailers embrace the opportunity to compete in new markets and provide better value to our customers.”
“We look forward to reading the report prepared for the President and Congress and will continue to educate lawmakers of both parties on the positive benefits of free trade to our economy,” added Quach. “Retailers are confident that a debate on the benefits of the TPP agreement will ultimately lead to passage of the agreement, and we are hopeful that lawmakers will work to ratify the agreement by the end of the year.”
In a comment letter to the USITC earlier this year, RILA outlined the positive impact TPP would have on consumers and the U.S. economy as a whole. Under the trade promotion authority law (TPA) which passed in 2015, the USITC was required to submit this report to the President and Congress within 105 days of passage of TPA.
RILA is the trade association of the world's largest and most innovative retail companies. RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $1.5 trillion in annual sales, millions of American jobs and more than 100,000 stores, manufacturing facilities and distribution centers domestically and abroad.