Our Global Opportunities under a New Administration

by Maria S. Salinas

While 2020 will be remembered as a significant year across the globe, not only because of the resulting turbulence of the pandemic, but also because of the events unfolding on the global trade front, we look with hope to a new U.S. administration to see how trade policy will be approached.

The L.A. Area Chamber has long and actively supported and advocated for strong trade policies with the belief that trade is not the problem, but rather part of the solution. The expansion of exports and opening up of foreign markets are critical for the long-term recovery and sustainability of California’s economy. As one of the largest exporting states in the nation, with exports to 229 economies around the world, international-related commerce accounts for approximately one-quarter of California's economy.

Recognizing the critical role that international trade will have for the region’s post-pandemic economic recovery and in order to better serve businesses, as well as support and maintain the competitiveness of the region’s ports through increased trade, the Chamber looks forward to supporting the administration as it builds a strong trade agenda.

Like much of the world, we are eager to see the restoration and rebuilding of key alliances, in particular those with multilateral institutions like the World Trade Organization (WTO), including efforts to reform the WTO and strengthen their Dispute Settlement System. It is also our hope that the US will give serious consideration to rejoining the Comprehensive Progressive Trans Pacific Partnership (CPTPP). This historical agreement with eleven key countries in the Asia-Pacific, the world’s leading region of economic growth, would offer our companies big opportunities for trade and expansion.

Lastly, we look forward to constructive dialogue and continuing negotiations with China that will result in addressing legitimate concerns, establish a more effective and transparent process for tariff inclusions and work towards the eventual removal of both countries’ punitive tariffs. A full listing of the Chamber’s Global Policy objectives can be viewed here.

Re-committing to working together with the new administration and with our global partners on issues such as these will have a significant positive impact on California in terms of increasing exports, creating jobs and restoring economic growth across our State.