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US Commerce Under Secretary: TPP is of crucial importance to US and world trade

Jun 1 2016

US Undersecretary of Commerce for International Trade Stefan Selig made a strong pitch for the Trans-Pacific Partnership (TPP).

US Undersecretary of Commerce for International Trade, Stefan Selig, made a strong pitch for the Trans-Pacific Partnership (TPP), underscoring its importance not only for the U.S. but also for world trade, which stood to benefit as trade barriers are dismantled and borders between the trading partners become irrelevant.

“The importance of the TPP cannot be overstated … it is a 21st century trade agreement,” Selig told the American Journal of Transportation on the sidelines of an event held on May 16 at the Baruch College in New York to mark the World Trade Week NYC where international trade awards were given to recipients for their outstanding work in their respective business. “The TPP is President Obama’s rebalance to Asia,” Selig said, emphasizing that the TPP would be passed amid consternation over opposition to the TPP agreement expressed by both the presumptive Presidential nominees, Republican Donald Trump and Democrat Hillary Clinton.

The TPP is a free trade agreement between 12 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. All 12 TPP countries are members of the Asia-Pacific Economic Cooperation (APEC). The TPP agreement, concluded on October 5, 2015 in Atlanta, Georgia, was formally signed on February 4, 2016 in Auckland, New Zealand. “

I have 50 persons on my team who are 100 percent devoted to the TPP. While I am not going to comment on the statements made by the various political candidates, one should realize that this is an election season … electoral politics is not reflected in policies,” he said.


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