February 27, 2014 6:22 pm
We cannot afford to stand on the sidelines of trade
America should seize the chance to spread our values and benefit our people, writes Joe Biden
The US is currently negotiating major trade agreements across the Atlantic and Pacific. Both deals are historic in scope, offering us a chance to shape the global economy in ways that strengthen US leadership in the world and the American middle class at home.
But I am convinced that the two deals we are negotiating are in America’s best interest, and that politicians will ultimately be rewarded for making them happen. That is why President Barack Obama and I are committed to seeing them through.
The US has been the world’s pre-eminent economic power for many years and will remain so for the foreseeable future. But the rise of new economic powers means we will face fierce competition from more places than ever before.
America’s economic relations with the rest of the world matter more now than ever before. Countries that throw up protectionist barriers and distort their economies to favour state-owned enterprises are challenging rules of the road that we have relied on for decades. The question is whether the US will take a leadership role in shaping a new course that reflects American values – or whether we will stand on the sidelines as a new order unfolds.
The two agreements now in the works would place the US at the centre of two vast trading regions. The Trans-Pacific Partnership would connect America to economies as diverse as Japan, Malaysia and Chile.
The Transatlantic Trade and Investment Partnership would significantly deepen what is already a multitrillion-dollar economic relationship with the EU. Together they would unite nearly two-thirds of the world economy in support of open and fair economic competition.
Both of the deals will increase US exports and help attract good middle-class jobs to America. When 95 per cent of the world’s customers live beyond our borders, exports are critical. Outside studies have found that the TPP and TTIP would each increase exports by more than $120bn a year.
Some 44m Americans work for companies that export goods. Jobs supported by exports pay as much as 18 per cent higher than the national average.
After decades when our economy grew but the middle class took a beating, Americans are understandably worried about rising inequality at home. The president and I are determined to address this. So the deals we are negotiating are different from those our country has signed before, reflecting the lessons of two decades of globalisation. They include unprecedented steps to protect labour standards, the environment and intellectual property, as well as new commitments against favouritism for state-owned enterprises. They require nations that might otherwise try to undercut us to match our high standards instead.
Our exports still face barriers in many countries. These agreements must level the playing field. America has less than a 1 per cent share of Japan’s automobile market. As I have said directly to Japan’s leaders, we must address barriers to American car exports if we hope to move forward.
But the benefits are not just economic. As America reasserts its role as a Pacific power, many in the region are asking whether we are there to stay. Deploying soldiers and diplomats is essential. But as other nations use their economic might to compete for influence and even coerce smaller neighbours, there is no substitute for robust American economic engagement – on behalf of our own companies and in defence of open commerce and fair competition. The TPP has become a symbol of American staying power.
We must see it through. Our European allies are already our security partners of first resort, from Libya to Afghanistan. TTIP will spur growth that helps both sides of the Atlantic continue to modernise and invest in the most powerful alliance in history.
When a president receives support and guidance from Congress, that strengthens America’s hand at the negotiating table. That is why the president and I have asked Congress to grant us trade promotion authority. This means that Congress outlines US objectives in detail and sets the terms for close consultation. Congress gets the final say when it puts the resulting agreements to a simple vote.
I realise trade can be a contentious issue. Having run for office a few times myself, I do my best never to tell another man or woman his or her politics. But I also believe that good policy makes good politics. And trade that strengthens America’s middle class is both.
The writer is the vice-president of the United States
Many in Congress and in my own party view new trade agreements sceptically and are reluctant to offer their support. I understand the pressures these lawmakers face.
The global economy is at an inflection point. The choices we make now will determine our role in the world for decades to come. We have an opportunity to shape the path of global commerce to spread our values and benefit our people, and we should seize it.
America’s economic relations with the rest of the world matter more now than ever before. Countries that throw up protectionist barriers and distort their economies to favour state-owned enterprises are challenging rules of the road that we have relied on for decades. The question is whether the US will take a leadership role in shaping a new course that reflects American values – or whether we will stand on the sidelines as a new order unfolds.
The two agreements now in the works would place the US at the centre of two vast trading regions. The Trans-Pacific Partnership would connect America to economies as diverse as Japan, Malaysia and Chile.
The Transatlantic Trade and Investment Partnership would significantly deepen what is already a multitrillion-dollar economic relationship with the EU. Together they would unite nearly two-thirds of the world economy in support of open and fair economic competition.
Both of the deals will increase US exports and help attract good middle-class jobs to America. When 95 per cent of the world’s customers live beyond our borders, exports are critical. Outside studies have found that the TPP and TTIP would each increase exports by more than $120bn a year.
Some 44m Americans work for companies that export goods. Jobs supported by exports pay as much as 18 per cent higher than the national average.
After decades when our economy grew but the middle class took a beating, Americans are understandably worried about rising inequality at home. The president and I are determined to address this. So the deals we are negotiating are different from those our country has signed before, reflecting the lessons of two decades of globalisation. They include unprecedented steps to protect labour standards, the environment and intellectual property, as well as new commitments against favouritism for state-owned enterprises. They require nations that might otherwise try to undercut us to match our high standards instead.
Our exports still face barriers in many countries. These agreements must level the playing field. America has less than a 1 per cent share of Japan’s automobile market. As I have said directly to Japan’s leaders, we must address barriers to American car exports if we hope to move forward.
But the benefits are not just economic. As America reasserts its role as a Pacific power, many in the region are asking whether we are there to stay. Deploying soldiers and diplomats is essential. But as other nations use their economic might to compete for influence and even coerce smaller neighbours, there is no substitute for robust American economic engagement – on behalf of our own companies and in defence of open commerce and fair competition. The TPP has become a symbol of American staying power.
We must see it through. Our European allies are already our security partners of first resort, from Libya to Afghanistan. TTIP will spur growth that helps both sides of the Atlantic continue to modernise and invest in the most powerful alliance in history.
When a president receives support and guidance from Congress, that strengthens America’s hand at the negotiating table. That is why the president and I have asked Congress to grant us trade promotion authority. This means that Congress outlines US objectives in detail and sets the terms for close consultation. Congress gets the final say when it puts the resulting agreements to a simple vote.
I realise trade can be a contentious issue. Having run for office a few times myself, I do my best never to tell another man or woman his or her politics. But I also believe that good policy makes good politics. And trade that strengthens America’s middle class is both.
The writer is the vice-president of the United States
0 comments:
Publicar un comentario