WASHINGTON –Senate Finance Committee Ranking Member Sen. Ron Wyden, D-Ore., issued the following statement in response to the announcement of an agreement in principle for a new Asia-Pacific trade agreement:
“This Administration has spent nearly a year dithering and still lacks any serious strategy for the engagement with Asia in order to open those markets to exports of American goods and services,” Wyden said.
“Today’s announcement from the TPP-11 countries confirms that the world will not wait for the Trump Administration to find its way. Because of this failure to effectively engage, farmers, ranchers, manufacturers, and service providers will lose business in the Asia Pacific markets compared to their competitors in countries like Canada and Mexico. I fear that these eleven nations moving forward without the United States will create an incentive for American manufacturers to move production to Mexico in order to access consumers in the Asia-Pacific, such as those in Japan, Malaysia, and Vietnam.”