The TPP offers tremendous opportunities for U.S. exporters. Although the United States has exported $697.8 billion in goods to TPP markets in 2013, they are trying to further deepen their economic relations.
As for California, it depends on World Markets. It exported shipments worth of $168.1 billion in 2013 and $71 billion alone in the TPP markets. During 2011-2013, 43% of California’s goods went to the TPP region. The jobs supported by California’s export were about 787,000 in 2011 according to the USTR, and one quarter of all manufacturing workers depended on exports for their jobs.
Goods exports sustain thousands of California businesses mainly the small and medium ones. More than 95% of the exported goods companies were SMEs (Small and Medium Enterprises) with fewer than 500 employees. These SMEs have generated over 44.6% of total exports, and they will benefit most from the tariff-elimination provisions of the free trade agreements. Trade facilitation is vital to SME firms as is enforcement of their intellectual property rights.
Sources: U.S. Department of Commerce; U.S. Trade Representative.