The Retail Industry Leaders Association (RILA) issued the following statement in response to the release of the complete Trans-Pacific Partnership (TPP) agreement by the Office of the United States Trade Representative. If ratified by Congress, the trade pact reached among the 12 participating Asia-Pacific nations, including the United States, will dramatically reduce tariffs and open markets to nearly 800 million consumers.
"Release of the TPP text is the next step toward ratifying this historic trade agreement," said RILA Vice President of International Trade Hun Quach. "The TPP agreement is the largest free-trade agreement in history, and it will not only save American families hundreds of millions of dollars on tariffs and taxes, but it will open foreign markets and level the playing field for American businesses. Every Member of Congress and their constituents now have the opportunity to read the text of the TPP agreement in its entirety. Retailers look forward to educating consumers and Congress on the benefits of free trade in the months ahead."
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.