Aftermarket Insider Issue 80 - (Page 6)

GoVERnMEnT AFFAiRS tHiNkiNg glOBAlly The Trans-Pacific Partnership: What You Need To Know What is the Trans-Pacific Partnership? The Trans-Pacific Partnership (TPP) is a proposed regional free trade agreement (FTA) currently being negotiated among the United States, Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. U.S. negotiators describe the TPP as a “comprehensive and high-standard” FTA because they hope it will liberalize trade in nearly all goods and services and include commitments beyond those currently established under the World Trade Organization (WTO). Why is the United States Participating in TPP negotiations? The TPP is a vehicle for Asia-Pacificwide economic integration, which seeks to strengthen U.S. ties to the robust economies of this region. It is the Obama administration’s leading trade policy initiative, and represents the administration’s “pivot” to Asia. If concluded, it may serve to shape 6 | AFTERMARKET INSIDER | VOLUME 80 The TPP represents significant opportunities for the automotive aftermarket, including lower tariffs on automotive parts and accessories imports, streamlined customs procedures, updated country of origin rules, new export markets and greater market access for exporters, and stronger intellectual property protections. percent of world trade. If implemented, the economic architecture of the the TPP could eliminate tariff and Asia-Pacific region by harmonizing non-tariff barriers to trade and existing agreements with U.S. FTA investment among the parties and could partners, attracting new participants, serve as a template for future FTAs. and establishing regional rules on new policy issues facing the global economy. The goal of U.S. negotiators is to What Will Happen to Existing FTAs? include additional Asia-Pacific countries The United States has FTAs in force in successive clusters to eventually with Chile, Singapore, Australia, cover a region that represents more Peru, and with North American Free than half of global output and over 40 Trade Agreement (NAFTA) partners http://www.ustr.gov/tpp

Table of Contents for the Digital Edition of Aftermarket Insider Issue 80

Aftermarket Insider Issue 80
Contents
President’s Message
Association News
Government Affairs
Government Affairs
Head of the Class
Head of the Class
Member Profile
Toolbox
Impact Award
Market Intelligence
Market Intelligence
Executive Perspective

Aftermarket Insider Issue 80