The Retail Industry Leaders Association (RILA) issued the following statement in response to the passage of Trade Promotion Authority in the United States Senate.
Retailers applaud the Senate for approving Trade Promotion Authority and paving the way to economic growth by providing American consumers and businesses with access to new markets," said Hun Quach, Vice President for International Trade. "With its final approval from Congress, TPA will now ensure the Administration brings home trade agreements that create new opportunities for American businesses and bolsters U.S. competitiveness around the world."
The measure will now go to the President for his signature.
TPA is critical to the successful implementation of trade priorities, including the Trans-Pacific Partnership (TPP) and the Environmental Goods Agreement (EGA).The TPA legislation approved today strengthens provisions to raise labor and environmental standards, creates a level playing field for businesses and workers around the world, and ensures that new issues, such as state-owned enterprises and digital trade, are addressed in future trade agreements. TPA also gives our negotiating partners certainty to make the difficult decisions required to reach a final agreement.
As part of the trade agenda, RILA supports a comprehensive, high-standard TPP agreement with a membership and coverage that provides significant market access opportunities in all sectors. The most important issues for retailers in the TPP are the elimination of duties and creation of workable rules on high-tariff items, such as apparel and footwear. Further, retailers believe that the TPP should eliminate supply chain barriers. If these issues are addressed, the TPP could save American consumers hundreds of millions of dollars, while promoting trade and investment, thus enabling retailers to provide the latest products and technology to American families.
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.