U.S. Exports To The Pacific: ‘Enormous Potential’

Opportunity To Grow Current Trillion Dollar Export Market Beckons, ‘Dramatically’ Higher Exports Projected

The Trans Pacific Partnership: ‘Enormous Potential For … American Workers’

“In recent years, countries across the Asia-Pacific have struck more than 200 trade deals, while American workers and businesses have largely missed out.” (“United States Of Trade,” Dept. Of Commerce, 2015)

TRANS PACIFIC PARTNERSHIP “The United States is negotiating the TPP with 11 other like-minded countries (Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam)…” (“Overview Of The Trans Pacific Partnership,” USTR, Accessed 4/27/15)

Six of these nations have pre-existing trade agreements with the United States. “The United States has free trade agreements in force with… Australia… Canada… Chile… Mexico… Peru… [&] Singapore.” (“Free Trade Agreements,” U.S. Trade Representative, Accessed 4/27/15)

“The United States already has FTA with six of the countries at the TPP negotiating table, but they really want to ink a deal with Japan, the third largest global economy. In particular, the United States likely wants to open up the Japanese agricultural market and allow rust belt automakers to sell vehicles in Asia.” (Washington Post’s ‘The Fix’ Blog, 4/23/14)

Nearly $1 Trillion In Exports To Trans Pacific Partnership Countries

In 2013, “U.S. goods and services trade with TPP countries… Exports totaled $898 billion” (“U.S. Trans Pacific Partnership (TPP) Countries,” U.S. Trade Representative, 1/9/15)

2014 U.S. Goods Exports To TPP Nations: $727 Billion

“45% of goods exports destined for TPP partners in 2014” (“United States Of Trade,” Dept. Of Commerce, 2015)

2014 U.S. Export Value For Goods

TRANS PACIFIC PARTNERSHIP NATIONS: $727 billion

1. CANADA, Top Trading Partner: $312 billion

2. MEXICO, 2^nd Biggest Trading Partner: $240 billion

3. JAPAN, 4^th Biggest Trading Partner: $67 billion

4. SINGAPORE: $31 billion

5. AUSTRALIA: $27 billion

6. CHILE: $17 billion

7. MALAYSIA: $13 billion (“Top U.S. Trade Partners, 2014” USTR, 2015)

8. PERU: $10 billion (“FTA Partners - Total Goods,” USTR, Accessed 4/27/15)

9. VIETNAM: $5.7 billion

10. NEW ZEALAND: $4.3 billion

11. BRUNEI: $550 million (“U.S. Trans Pacific Partnership (TPP) Countries,” USTR, 1/9/15)

2013 U.S. Services Exports To TPP Nations: $199 Billion

In 2013 “with TPP countries... Services exports were $199 billion” (“U.S. Trans Pacific Partnership (TPP) Countries,” USTR, 1/9/15)

2013 U.S. Export Value For Services

1. CANADA: $63 billion

2. MEXICO: $30 billion

3. JAPAN: $46 billion

4. SINGAPORE: $11 billion

5. AUSTRALIA: $19 billion

6. CHILE: $4 billion

7. MALAYSIA: $3 billion

8. NEW ZEALAND: $2 billion

9-11 PERU, VIETNAM, & BRUNEI: Not individually listed. (“Table 2.2. U.S. Trade in Services,” Bureau Of Economic Analysis, 10/24/14)

2014: Total ‘U.S. Exports Of Goods And Services Tallied A Record $2.35 Trillion,’ ‘Enormous Potential … To Grow’

$2.4 TRILLION: “U.S. exports of goods and services tallied a record $2.35 trillion in 2014. That was the fifth consecutive year we achieved record exports.” (“Increased Exports And The Jobs Supported By Exports Are Keys To Heightened Economic Confidence,” Dept. Of Commerce, 3/11/15)

11.7 MILLION JOBS: “…a record year when it came to export-supported jobs: more than 11.7 million.” (“Increased Exports And The Jobs Supported By Exports Are Keys To Heightened Economic Confidence,” Dept. Of Commerce, 3/11/15)

95%: “With 95 percent of the world’s customers living outside of U.S. borders, there is enormous potential for our businesses – and small businesses in particular – to grow their exports, hire more American workers, and expand their bottom lines.” (“United States Of Trade,” Dept. Of Commerce, 2015)

U.S. Exports Under TPP Could Increase By $124 Billion A Year

PETERSON INSTITUTE: “Ambitious Asia-Pacific trade agreements would dramatically change world exports. … On the TPP track, Japan and the United States would have the largest absolute export increases.” (“The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment,” Peterson Institute, P.43, 11/12)

“United States… Export increases in 2025: TPP track… 124.2 [billion dollars]” (“The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment,” Peterson Institute, P.44, 11/12)

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SENATE REPUBLICAN COMMUNICATIONS CENTER

Related Issues: Economy, Jobs, Free Trade, Trade Promotion Authority, Middle Class, TPP

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