Excerpts from U.S. ITA’s Trade Blog / Acting Deputy Assistant Secretary for Manufacturing Scott Kennedy
During the past few years, U.S. producers of transportation related goods and equipment have experienced an increase in demand for their products at home and overseas. Products such as U.S.-built commercial aircraft, aircraft engines, miscellaneous aircraft parts, and parts of railway rolling stock, have become critical components to other countries’ transportation infrastructure system.
Recently, leaders across the Pacific Rim signed the Trans-Pacific Partnership (TPP). The new agreement will eliminate tariffs, lower service barriers, and increase transparency while also increasing competitiveness by instituting stronger intellectual property rights protection, and establishing enforceable labor and environmental obligations. The TPP will lead to an overall increase in economic activity and trade for the region. As economies grow there will be a natural, corresponding rise in demand for transportation related products...
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ITA’s Industry and Analysis division recently released a transportation equipment sector report that highlights the benefits of TPP related to some key players in the transportation industry.