Press Release Summary:
In remarks to a NEMA meeting, U.S. Secretary of Commerce Penny Pritzker cited series of benefits for U.S. electrical equipment and medical imaging manufacturers embedded in the Trans-Pacific Partnership trade agreement negotiated by the Obama Administration. In particular, Secretary Pritzker highlighted provisions to eliminate customs tariffs, enable delivery of services, and prevent roadblocks to movement of digital data across borders.
Original Press Release:
Pritzker Cites Trans-Pacific Trade Benefits for NEMA Members
ROSSLYN, Va., — In remarks today to a meeting of the National Electrical Manufacturers Association (NEMA), U.S. Secretary of Commerce Penny Pritzker cited a series of benefits for U.S. electrical equipment and medical imaging manufacturers embedded in the Trans-Pacific Partnership (TPP) trade agreement negotiated by the Obama Administration. In particular, Secretary Pritzker highlighted the agreements provisions to eliminate customs tariffs, enable delivery of services, and prevent roadblocks to movement of digital data across borders.
“The Asia-Pacific is the fastest growing marketplace in the world,” said Pritzker. “What TPP does is create opportunities for your businesses.
“The biggest beneficiaries of TPP will be small and medium-sized businesses,” she added, in a dialogue with NEMA President and CEO Kevin J. Cosgriff and NEMA Chairman Donald J. Hendler, President and CEO of Leviton.
“We look forward to working with Secretary Pritzker and others to explain the benefits of the agreement for our member companies and to Members of Congress,” added Cosgriff.
The TPP participants are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. The Obama Administration released publicly the full text of the TPP on November 5.
Secretary Pritzker also encouraged NEMA member companies seeking to develop international customers and relationships to get involved with the Hannover Messe global trade fair in Germany in 2016. “This is a chance for you to showcase your businesses…to representatives around the world,” Pritzker said. NEMA is working closely with the Department to promote this opportunity to NEMA members.
The Secretary also spoke about the administration’s interagency efforts to support and promote advanced manufacturing and to use training and apprenticeships to help develop the next energy-technology workforce in the United States. Pritzker highlighted the role played by nine Administration-established “innovation hubs” in a public-private partnership to take ready technologies to market.
The National Electrical Manufacturers Association (NEMA) represents nearly 400 electrical, medical imaging, and radiation therapy manufacturers. Our combined industries account for more than 400,000 American jobs and more than 7,000 facilities across the U.S. Domestic production exceeds $117 billion per year. Our industry is at the forefront on electrical safety, reliability, resilience, efficiency, and energy security.
National Electrical Manufacturers Association
Visit our website at www.NEMA.org