The U.S. Chamber of Commerce on Wednesday (May 25) strongly signaled that it is not expecting a vote on the Trans-Pacific Partnership this year when it urged the next president of the United States to pursue pro-trade policies starting with the approval of the TPP and the Transatlantic Trade and Investment Partnership in a publicly released open letter.
[Daily News| May 24, 2016 |Inside US Trade]
“Signed earlier this year, the [TPP] deal still requires approval from Congress, and it may very well need a major push from you to get it over the finish line,” the open letter said. It is addressed to “dear 45,” which is a reference to the forty-fifth president of the United States.
It touts the benefits of TPP as helping U.S. business gain better access to eleven countries in the Asia Pacific region by reducing trade barriers like tariffs and strengthening intellectual property protections. According to the letter, the TTIP would hold similar promise for American businesses to gain access to the European Union market.
The letter overall touts trade as one of the most effective tools for a president to stimulate the economy and create jobs, reciting long-standing talking points about the relationship between economic growth and trade.
The letter comes as some pro-TPP sources say there is a growing resignation among business groups that a vote on the agreement is unlikely to occur this year. Late last week, IBM vice president Chris Padilla conceded the vote may not happen due to the difficult political environment, though he did hold out hope for a lame-duck vote after speaking at a Global Business Dialogue event.