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Op-Ed Highlights Economic Benefits of Trade, Urges TPP Passage

Tuesday, November 1, 2016

(North American Meat Institute)

Michael Ducker, president and chief executive officer of FedEx Freight and chairman of the Executive Committee of the U.S. Chamber of Commerce, penned an op-ed touting the benefits of trade for the U.S. economy. Ducker said trade currently supports 41 million U.S. jobs and has raised the income of the average American household by $13,600 per year. In addition, Ducker argued that trade is critical to the American economy, given that 80 percent of the world's purchasing power, 92 percent of its economic growth and 95 percent of its consumers exist outside the U.S. Ducker also stressed that trade benefits businesses of all sizes, underscoring the fact that 98 percent of U.S. exporters are small- and medium-sized businesses. Furthermore, Ducker stated that market access and e-commerce have changed the nature of global trade and indicated that trade agreements help America compete with other nations, while also contributing to trade surpluses in services, manufacturing and agriculture. Ducker closed by making a strong case for ratification of the Trans-Pacific Partnership, saying the agreement would streamline trade, reduce barriers, eliminate 18,000 tariffs assessed on American-made products and create new business opportunities, among other benefits.

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