WASHINGTON, 2015-10-6 — /EPR Retail News/ — The National Retail Federation today issued the following statement from Senior Vice President for Government Relations David French on completion of Trans-Pacific Partnership negotiations:
“Trade agreements are vital for American retailers large and small. They help merchants provide high-quality, low-cost goods to U.S. consumers, and provide new overseas market opportunities for American companies and workers. It’s taken hard work on the part of U.S. negotiators to conclude this agreement, and we congratulate United States Trade Representative Michael Froman and his team for achieving an agreement.”
“International trade supports millions of jobs in the retail industry, and that number will only grow with passage of TPP. NRF looks forward to reviewing the final agreement with our members to identify the benefits for retailers and their customers.”
NRF’s recent Trade Matters to American Retailers and Families report found that international trade supports 6.9 million U.S. jobs in the retail and restaurant industries alone. Passage of the TPP and the Transatlantic Trade and Investment Partnership – the other major trade agreement currently being negotiated – could help eliminate nearly $6 billion in tariffs that drive up prices of many imported consumer goods.
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. NRF.com
SOURCE: National Retail Federation