The Coalition for a Prosperous America (CPA) submitted official comments yesterday, stating opposition to the talks until the US has a plan to balance trade.? CPA also pointed out the specific problems of Mexico?s VAT and Canada?s Goods and Services Tax, trade barriers and subsidies which hurt U.S. businesses and workers and worsen our trade deficit.
"We are concerned that the Office of the U.S. Trade Representative does not have a strategy to eliminate the trade deficit and help the U.S. become a successful trading nation," said Michael Stumo, CEO of CPA.???
"Participation in the Trans Pacific Partnership negotiations is not designed to balance U.S. trade flows. The USTR disserves the public interest by merely pursuing increased two-way trade with these countries, regardless of the balance of trade."
The CPA statements, contained in two separate letters, state that the USTR should address the distortionary impact of Mexico?s value added tax on trade. Instituted as Mexico was planning to join NAFTA, this consumption tax now operates as a 15% import tax and thus a trade barrier. Mexico?s VAT rebates also serve as a 15% export subsidy on shipments to the U.S.? The statements further stipulate that the USTR should address Canada's goods and services tax (GST) on trade. This consumption tax was increased as Canada was planning to join NAFTA, heightening its impact as an import tax and a trade barrier. Canada's GST rebates also serve as a substantial export subsidy on shipments to the U.S.
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As an addendum to each of the statements, CPA submitted their 21st Century Trade Agreement Principles as a model for a functional bi or multilateral trade contract.
The Coalition for a Prosperous America is a national, non-profit organization representing the interests of 2.7 million families through agriculture, manufacturing, and labor association membership.? You can see CPA's official Canada TPP submission here.? And CPA's Mexico TPP submission here.
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