U.S. Commerce Undersecretary Stefan Selig met with South Florida business leaders Thursday to garner support for ratification of the Trans-Pacific Partnership, the largest trade agreement in history, signed hours earlier in New Zealand by ministers from 12 member nations.
“This will be the biggest, most important trade agreement ever in the history of the world in terms of expanding market access,” Selig said. “It will immediately eliminate 18,000 tariffs on day one on American exports. It will eliminate 59 percent of tariffs on U.S. machinery, up to 70 percent on autos, 40 percent on poultry. This agreement will set a new gold standard for global trade rules.”
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