March 13, 2018

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TechNet Urges President Trump To Return To The Trans-Pacific Partnership

Washington, D.C. — TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today urged President Trump to return to the Trans-Pacific Partnership (TPP).  The call to action follows a recent effort by 25 U.S. senators urging the President to return to the TPP and highlighting its economic benefits to the U.S.

“We write to express our solidarity with the 25 U.S. senators who recently urged you to re-engage in the Trans-Pacific Partnership (TPP) with the goal of promoting more economic growth for the U.S.  The technology industry has long supported the TPP, and we strongly encourage you and your administration to ensure the U.S. does not miss out on all the economic opportunities this trade agreement has to offer our nation,” wrote TechNet President and CEO Linda Moore.  “Implementing the TPP without the U.S. as a participant would jeopardize our nation’s economic growth, weaken our relationship with some of our most important allies, and cede important economic opportunities and leadership in the Asia-Pacific region to China and other competitors.”

The full text of today’s letter is below and a PDF is available here.

 

March 13, 2018

The Honorable Donald J. Trump
President of the United States
The White House
1600 Pennsylvania Avenue, NW
Washington, D.C. 20500

Dear Mr. President:

TechNet and our 81 members are committed to pursuing international trade agreements and policies that help the U.S. economy grow and create more jobs for American workers.  One of the most important ways to achieve these goals is to secure new trade agreements and modernize existing ones that include strong digital trade rules that enable the U.S. to continue leading the global innovation economy.

TechNet is the national, bipartisan network of innovation economy CEOs and senior executives.  Our diverse membership includes dynamic startups and the most iconic companies on the planet and represents three million employees and countless customers in the fields of information technology, e-commerce, the sharing and gig economies, advanced energy, cybersecurity, venture capital, and finance.

We write to express our solidarity with the 25 U.S. senators who recently urged you to re-engage in the Trans-Pacific Partnership (TPP) with the goal of promoting more economic growth for the U.S.  The technology industry has long supported the TPP, and we strongly encourage you and your administration to ensure the U.S. does not miss out on all the economic opportunities this trade agreement has to offer our nation.

As the 25 senators correctly noted in their February 16 letter to you: “Increased economic engagement with the 11 nations currently in TPP has the potential to substantially improve the competitiveness of U.S. businesses, support millions of U.S. jobs, increase U.S. exports, increase wages, fully unleash America's energy potential, and benefit consumers.  Increasing access to a region and market that has a population of nearly 500 million can create widespread benefits to the U.S. economy.”  Simply put, the U.S. innovation economy benefits when we have more customers who can buy and use our products, and more markets where we can compete — and win — on a level playing field where the rules of the game are clear and enforceable.

Furthermore, the ubiquity of the internet has opened markets once out of reach to the local American entrepreneur, torn down barriers to entry that prevented small businesses from growing beyond their communities, and facilitated the transfer of data, goods, and services at speeds once unimaginable.  Between 2005 and 2014 alone, global cross-border data flows grew by 45 times, generating $2.8 trillion in economic value in 2014 — a greater impact on world GDP than global trade in goods.  All trade deals the U.S. enters into going forward must take into account these monumental transformations that have changed the way we do business abroad over the past three decades.

The U.S. economy cannot grow at its full potential without a thriving technology sector, just as the technology sector cannot succeed without the right federal policies in place.  Chief among these federal policies are trade agreements with strong digital trade rules that empower American innovators, entrepreneurs, workers, and consumers so they can seize all the economic opportunities modern technological advances have made possible in the 21st century.

Implementing the TPP without the U.S. as a participant would jeopardize our nation’s economic growth, weaken our relationship with some of our most important allies, and cede important economic opportunities and leadership in the Asia-Pacific region to China and other competitors.  As you continue advancing your trade agenda, we stand ready to continue working with you and your administration to pursue policies that grow our nation’s economy, create jobs and higher paychecks here at home, and bolster America’s tech leadership in the world.

Sincerely,

Linda Moore
President and CEO

About TechNet
TechNet is the national, bipartisan network of technology CEOs and senior executives that promotes the growth of the innovation economy by advocating a targeted policy agenda at the federal and 50-state level.  TechNet’s diverse membership includes dynamic startups and the most iconic companies on the planet and represents three million employees and countless customers in the fields of information technology, e-commerce, the sharing and gig economies, advanced energy, cybersecurity, venture capital, and finance.  TechNet has offices in Washington, D.C., Silicon Valley, San Francisco, Sacramento, Austin, Boston, Olympia, Albany, and Tallahassee.

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