The US department of Commerce and the US trade representative have highlighted the impact of TPP in Indiana and the US. TPP members comprise a population of roughly 800 million and these dynamic economies generate nearly 40 percent of global GDP. The United States already has strong trade and investment ties to this region, and it exported $697.8 billion in goods to all TPP markets in 2013, or about 44 percent of total U.S. exports and are seeking through TPP to further deepen economic relations.
Indiana Depends on World Markets: Indiana’s export shipments of merchandise in 2013 totaled $34.2 billion. Indiana exported $18 billion annually in goods to all TPP markets. Indiana’s goods exports to all TPP markets increased by 7 percent from 2011 to 2013. During this period, 55 percent of Indiana’s total goods exports went to the TPP region including transportation equipment, machinery manufactures, and chemical manufactures.
Goods Exports Support Jobs for Indiana Workers: Jobs supported by Indiana’s goods exports were about 223,000 in 2011 according to an estimate. In 2011, nearly 24.7 percent of all manufacturing workers in Indiana depended on exports for their jobs.
Goods Exports Sustain Thousands of Indiana Businesses: A total of 8,239 companies exported goods from Indiana locations in 2012. Of those, 6,995 (84.9 percent) were small and medium-sized enterprises with fewer than 500 employees.
Indiana Small and Medium-sized Firms Will Benefit From Trans-Pacific Partnership FTA Provisions: Small and medium-sized firms generated nearly one-sixth of Indiana’s total exports of merchandise in 2012. Small- and medium-sized firms benefit from the tariff-elimination provisions of free trade agreements, as well as many of the other commitments in the agreement. Trade facilitation, for example, is vital to small- and medium-sized firms, as is enforcement of their intellectual property rights, streamlining of regulatory issues, and other commitments.
Indiana is hugely dependent on the trade policies, and TPP can directly impact the policies in this state. Clear policy changes will come to the light only after the agreement is reached and the further negotiations happen.
Read more on the website: https://ustr.gov/tpp