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New USITC Report Underscores the Importance of Trans Pacific Partnership
Arlington, Va. (May 19, 2016) – The Telecommunications Industry Association (TIA), the leading association representing the manufacturers and suppliers of high-tech communications networks, today welcomed the release of the U.S. International Trade Commission’s (ITC) report highlighting how the Trans Pacific Partnership (TPP) would boost the U.S. economy. The benefits noted in the report include both GDP growth and job gains. The full USITC report is available here.
“The TPP is essential to expanding trade and increasing access to foreign markets for U.S. technology products and services,” said TIA CEO Scott Belcher. “This report underscores the importance of the trade agreement for strengthening the U.S. technology industry’s ability to generate high-paying jobs and for promoting borderless digital trade opportunities.”
Belcher noted that the report highlights the value to U.S. business of TPP requirements to ensure the free flow of digital information and prevent countries from requiring local storage of digital data, as well as intellectual property protections and greater regulatory transparency when conducting business overseas. It also specifies the TPP would promote increased U.S. exports of cloud computing and computer services associated with the emerging Internet of Things and big data analytics.
The Commission estimates that by 2032, U.S. real Gross Domestic Product (GDP) would be $42.7 billion higher if TPP goes into effect. It also predicts that TPP would add nearly 128,000 jobs by the year 2032, or 174,000 new positions by 2047.
The Telecommunications Industry Association (TIA) represents manufacturers and suppliers of global communications networks through standards development, policy and advocacy, business opportunities, market intelligence, and events and networking. TIA enhances the business environment for broadband, mobile wireless, information technology, networks, cable, satellite and unified communications. Members' products and services empower communications in every industry and market, including healthcare, education, security, public safety, transportation, government, the military, the environment, and entertainment. Visit tiaonline.org for more details.
TIA is accredited by the American National Standards Institute (ANSI), and is a proud sponsor of ANSI’s Standards Boost Business campaign. Visit www.standardsboostbusiness.org for details.