Guest Blogger: Rep. Anh Cao (R-LA) on the Trans Pacific Partnership

Rep. Anh Cao / March 15, 2010

The United States Trade Representative announced that negotiations on the Trans Pacific Partnership will begin this month, March 2010. Prompt conclusion of this agreement could be critical to the President’s export initiative, in which Mr. Obama intends to double U.S. Exports over the next five years. While the stimulus plan has had mixed results, increasing exports could help move our economy out of recession.

Increasing exports can have a dramatic effect opening up new markets for U.S. goods and services. My district, which includes the Port of New Orleans, has benefited greatly from previous free trade agreements. The North American Free Trade Agreement (“NAFTA”) generated $798.1 million in new exports through New Orleans in 2006 and $607.0 million in the first half of 2007.

The Trans Pacific Partnership will create trade relationships between the United States and seven countries: Singapore, Chile, New Zealand, Brunei, Australia, Peru, and Vietnam. When a bilateral free trade agreement with just one of the potential Trans Pacific Partners Australia, was implemented, Louisiana’s exports to that country increased by 23%. (more…)