By Jerry Jasinowski
We now have a once in a lifetime opportunity to secure a Transatlantic Partnership Agreement (TAP), a free trade agreement with the European Union, that has been a dream of U.S. manufacturers for as long as I can remember. Both the White House and Congress are supportive as is the EU itself. Even the AFL-CIO which generally opposes Free Trade Agreements (FTAs), says a pact with the EU “could” be beneficial.
My former colleagues at the National Association of Manufacturers (NAM) are onto the FTA in a big way, and I wish them luck. On my watch we worked hard for some 20 free trade agreements (FTAs), including the North American Free Trade Agreement (NAFTA), and all of them have proven to be just as beneficial as we said they would be – even more so.
But the TAP would be the mother lode of all FTAs. The European Union is the one economy in the world, taken as a whole, which is larger than our own. We already do a lot of trade with the EU of course, but an FTA would open the floodgates for a lot more mutually beneficial trade. Continue reading