Portland business leaders oppose Trump's end to TPP trade pact
Portland business leaders oppose President Trump's decision to pull out of the Trans-Pacific Partnership trade pact.
Trump signed an executive order to withdraw the U.S. from the 12-nation pact agreed to under the Obama administration on Monday.
But Portland Business Alliance President and CEO Sanda McDonough said, "Oregon is one of the most trade-dependent states in the nation, and international trade is a critical part of the Portland-metro economy. In Oregon, about half a million jobs are related to trade, and we are not just talking about jobs in large, multi-national companies. Some 90 percent of Oregon exporters are small- and medium-sized businesses, representing Oregon manufacturers, farmers and service industries."
As McDonough sees it, "Given the importance of trade to the Oregon economy, we hope that if the U.S. is not going to enter into a multi-lateral agreement like the Trans-Pacific Partnership, government leaders will look for other opportunities to encourage the growth of trade so that markets remain open for Oregon products and trade-dependent jobs will thrive."
Trump's action was not a surprise. The TPP agreement was never approved by Congress and both he and Democratic presidential nominee Hillary Clinton came out against it during the 2016 elections.
At the same time, Trump's actions on Monday raised questions about the impact on Portland and Oregon if he tries to renegotiate the North American Free Trade Agreement between the U.S., Mexico and Canada, as he has promised. the PBA was not immediately sure what the impact would be.
Former President Obama traveled to Nike's global headquarters in Beaverton to push the TPP deal in May 2015.