WCIT Disappointed At US Withdrawal From TPP

The Washington Council on International Trade reacted with disappointment this week at the news the United States had withdrawn from TPP.  WCIT President Lori Otto Punke said while they are disappointed they hope to find a way to move forward.

“Agriculture and Natural Resources were really an important export part with TPP countries, so with some of the large tariffs reductions that were scheduled to take place as part of TPP, we know that’s a hit in Washington state, and around the country.”

Otto Punke said while it’s a shame Washington will not see the benefits from TPP, there are opportunities that remain.

“I think whether the new trade deals are around bilateral agreements, or enforcement of existing agreements, I think there are still some opportunities out there that are going to be important to the U.S.  at the national level and of particular importance to Washington state.”

According to a 2016 WCIT study, TPP could have increased Washington’s exports by $8.7 billion a year, and created up to 26,000 additional jobs.

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