Gov. Edwards Announces Support of the Trans-Pacific Partnership

Press Release

Today, Gov. John Bel Edwards joined a bipartisan group of governors attending the National Governors Association summer conference in announcing his support of the Trans-Pacific Partnership (TPP). Gov. Edwards made the announcement alongside Gov. Terry Branstad of Iowa, Gov. Terry McAuliffe of Virginia, Gov. Brian Sandoval of Nevada, and Lt. Gov. Kim Reynolds of Iowa. TPP has been endorsed by business organizations across the country, including the U.S. Chamber of Commerce.

"Louisiana is a trade powerhouse," said Gov. Edwards. "We have built a thriving international commerce and trade economy and have one of the largest port complexes in the world. The TPP will directly impact Louisiana businesses and open the pathway for improved commerce and trade between the United States and our Pacific Rim partners."

In 2015, Louisiana exported over $49 billion worth of goods and continues to rank among the top 10 exporting states in our nation. According to the U.S. International Trade Administration, $17.5 billion in Louisiana products were exported to TPP countries in 2014, equaling 27 percent of all Louisiana goods exports.

In addition to the United States, there are 11 Trans-Pacific Partnership countries. They are: Australia, Brunei Daraussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

This partnership will eliminate more than 18,000 tariffs on goods made and grown in the USA, including a 40 percent tariff on poultry, a 7 percent tariff on oysters, a 25 percent tariff on paint, and a 33 percent tariff on soybean products.

Furthermore, as two-way Pacific trade grows and the Panama Canal expansion progresses, the Port of New Orleans will be able to capture more of the trade traffic from South America, Malaysia and Vietnam, and Australia and New Zealand.

Gov. Edwards continued, "Completing this agreement is essential to realizing the exponential growth opportunities offered by this partnership. That is why I am urging Congress to act now to ratify the Trans-Pacific Partnership, not only for the growth of our state's roughly 525,000 trade jobs but for the economic vitality of trade economies across this nation as a whole."

According to the U.S. Department of Commerce, Louisiana will benefit from the Trans-Pacific Partnership in several ways:

Louisiana exported $17.5 billion in goods to TPP countries in 2014.

Louisiana exports supported 170,200 U.S. jobs in 2014.

Nearly 1,600 companies from Louisiana exported to TPP nations in 2013 (82% were small/medium sized companies).

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