Statement By Senator John McCain On Conclusion Of Trans-Pacific Partnership Negotiations

Press Release

U.S. Senator John McCain (R-AZ) today released the following statement today on the United States and 11 other countries concluding negotiations on the Trans-Pacific Partnership (TPP):

"I welcome news that the United States and 11 other nations have concluded negotiations over the Trans-Pacific Partnership (TPP), the largest regional trade agreement in history. The TPP offers a historic opportunity to reduce trade barriers, open new markets, promote made-in-America exports, and keep American companies competitive in one of the most economically vibrant and fastest-growing regions in the world. By ending more than 18,000 import tariffs and removing additional trade barriers, the TPP will strengthen the American workforce and make our economy more competitive and prosperous.

"The TPP also presents a significant opportunity to expand Arizona's more than $19 billion in international trade, spur economic growth, create new jobs, and keep costs low for our state's consumers. Today, Arizona companies that engage in international trade with many Asia-Pacific countries must pay steep tariffs as high as 70 percent and face other barriers on certain exports to most of the region. The TPP will remove these barriers, enabling Arizona businesses to increase their exports to the region while incentivizing new producers to pursue trade opportunities in these emerging markets. Early estimates indicate this vital trade agreement will create 17,000 new jobs for Arizonans and significantly expand foreign direct investment in our state.

"The TPP also serves as more than just a trade agreement. It is a strategic agreement between the United States and countries in the Asia-Pacific region that are integral to the continuing security and prosperity of the United States. At a time when allies and adversaries alike are doubting America's commitment to the region, concluding a robust TPP will send an important signal that the United States remains a strong, committed player in Asia and reinforce our vital security relationships with countries such as Japan and Vietnam.

"While there will now be months of final drafting and debate to ensure high standards, I look forward to the final conclusion of a strong TPP agreement that will grow our state and national economy and advance our strategic interests."

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