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White House informs Congress that Canada will join Asia-Pacific trade talks

By Vicki Needham - 07/10/12 12:44 PM ET

The White House notified Congress on Tuesday that Canada will join the expanding Asia-Pacific trade deal talks. 

U.S. Trade Representative Ron Kirk sent a letter to lawmakers stating that Canada's entry into Trans-Pacific Partnership (TPP) negotiations is a tool to increase exports, which is "critical to our economic recovery." 

House Ways and Means Chairman Dave Camp (R-Mich.) said the addition of Canada "will further increase the value of TPP."

"I also appreciate Canada’s commitment to resolve key issues and adopt TPP’s high standards and ambition," Camp said. 

"Being from Michigan, I am well aware of the importance of our economic relationship with Canada and our long history of working together to promote economic growth and competitiveness."

The addition of Canada and Mexico on Monday increases the number of nations involved to 11. 

The other nine nations — the United States, Australia, New Zealand, Chile, Peru, Singapore, Malaysia, Vietnam and Brunei — agreed in June to invite Mexico and Canada. 

The countries are wrapping up their 13th round of talks in San Diego on Tuesday. 

Participants have said they want to conclude discussions either sometime this year or early next year.  

A decision about Japan, the third nation that has pressed for entry into the talks, has yet to be made. 

There is some hesitancy among lawmakers to bring that nation into the deal at this point, mainly because of what have been called restrictive policies that allow for very few U.S. auto exports to enter the country. 

In Tuesday's letter, Kirk said exports to Canada totaled $337 billion last year, up 13 percent over 2010.


Source:
http://thehill.com/blogs/on-the-money/1005-trade/237003-white-house-informs-congress-that-canada-will-join-tpp-talks

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