Even as its fate in the political world seems problematic, a new study released today claims a fully implemented Trans-Pacific Partnership would have brought $8.7 billion more in exports from Washington state and added up to 26,400 direct jobs last year alone.
The presumptive presidential nominees for both major parties have pledged not to support the free trade draft agreement with 11 Pacific Rim nations that was proposed by President Obama, but hasn’t received Congressional approval. It faces strong opposition from organized labor, causing elected officials not to want to vote on it before the November elections.
Washington Council on International Trade and Association of Washington Business organized this new study by Community Attributes Inc., with the results announced at a Seattle luncheon today.
Agriculture, software and aerospace are the industries that would be most positively benefited by TPP provisions, according to his report.
“As this study indicates, every year we do not implement the TPP is another year we are losing out on opportunities to reach our full economic potential,” noted Eric Schinfeld, WCIT president.
“Because 40 percent of Washington jobs are connected to trade and our state already has such strong economic ties to the Asia-Pacific region,” Kris Johnson, AWB president added, “Washington would benefit greatly from the passage of TPP.”
You can read the full text of today report outlining benefits of Trans-Pacific Partnership passage for the state at this link.