Today, 98 members of the Partnership for New York City, an organization made up of New York City’s business community, issued a letter to the entire New York State Congressional delegation pressing for support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA). TPA would give the President the authority he needs to secure the advantages that trade initiatives will bring to American business and workers. To date, the majority of the State’s Congressional Delegation has opposed TPA.
“New York is a global city that will enjoy huge benefits from more open and robust international trade,” said Kathryn Wylde, President & CEO, Partnership for New York City. “Our representatives should be leading the charge to support the President’s efforts to complete important trade agreements. Economics, not politics, should decide this issue.”
The letter notes that New York is one of the top beneficiaries of expanded global trade activity. Already, 25% of merchandise exports from the New York City metropolitan region are purchased by consumers in countries include in the Trans-Pacific Partnership. The legislation should result in a significant increase in exports to markets along the Pacific Rim, creating more jobs and economic activity in the U.S. and New York.