USCIB submitted a letter to U.S. Trade Representative Michael Froman on March 23 congratulating him for his leadership in implementing the World Trade Organization’s Trade Facilitation Agreement (TFA). The United States was one of the first countries to accept the TFA, a trade deal that will streamline cross-border trade and create an estimated 21 million jobs and add $1 trillion to the global economy over the course of a decade.
Two-thirds of WTO members must ratify the TFA before the agreement goes into force, and the United States serves as an example to other countries in ensuring the agreement’s ratification and implementation. Swift adoption of the TFA is critical for the business community, as it will spur economic growth and enhance competitiveness at a time when supply chains routinely cross multiple borders in the production of goods and services.
“The United States is playing a critical leadership role in implementation of the TFA and can count on the full support of the business community,” wrote USCIB President and CEO Peter Robinson in the letter.
USCIB has advocated strongly for the TFA, organizing two policy conferences on the multilateral trade agenda: “Exploring New Approaches to Trade, Investment and Jobs” in D.C. in October, for which Froman was the keynote speaker, and the “Customs and Trade Facilitation Symposium” in February in Miami.