Yesterday we learned that Mexico has been invited to join the Trans-Pacific Partnership (TPP) talks, and now today Canada has also been formally invited to join. Other members of the TPP group include the United States, Australia, New Zealand, Peru, Chile, Singapore, Malaysia, Vietnam and Brunei.
Much like the inclusion of Mexico this is welcome news for manufacturers. Canada is our largest trading partner totaling $596.2 billion in goods last year.
This expanded agreement would be the largest trade pact for the U.S. by joining the NAFTA partners with the current partipants in the TPP. This is an important step forward for the TPP and most importantly – manufacturing jobs. Exports are essential to manufacturing in the U.S. and we need to continue to find ways to lower barriers to reach new markets throughout the world.
The next round of negotiations for the TPP takes place in a few weeks in San Diego. It is our hope that the negotiators will make additional progress in moving us closer to the TPP becoming reality.