Historic Trade Agreement Signed
SILVER SPRING, MD – February 3, 2016 – U.S. Trade Representative, Michael Froman and trade officials from the 11 other participating nations in the Trans-Pacific Partnership (TPP), signed the agreement today in Auckland, New Zealand.
Signing the deal meets the 90 day deadline established on November 5, 2015, by President Obama when he notified Congress of his intention to support the TPP. Congress will vote on the trade deal, but cannot amend it. At this point no vote has been scheduled and the timing of a vote is unclear due to the challenges presented by an election year.
Negotiation of the largest free trade agreement ever started in December of 2009 and concluded in October of 2015. Passage of the TPP will result in the elimination of duties on all products made and traded within the region.
The Sports & Fitness Industry Association (SFIA) supports free trade and believes the TPP will put the U.S. in a stronger position in the Asia-Pacific market. SFIA will work with coalition partners in support of TPP passage.
Full text of the agreement can be found at https://medium.com/the-trans-pacific-partnership.
ABOUT SFIA: The Sports & Fitness Industry Association (SFIA), the #1 source for sport and fitness research, is the leading global trade association of manufacturers, retailers, and marketers in the sports products and fitness industry. SFIA seeks to promote sports and fitness participation as well as industry vitality through research, thought leadership, public affairs, industry affairs, and member services. For more information, please visit www.sfia.org.