TPP Shines Spotlight on International Trade

Posted: Updated:
Indy Chamber President Michael Huber took part in a policy briefing today focusing on the TPP. Indy Chamber President Michael Huber took part in a policy briefing today focusing on the TPP.
INDIANAPOLIS -

Local and national economic development leaders say ongoing discussion surrounding the hotly-debated Trans-Pacific Partnership issue is a good opportunity for mid-sized companies to weigh the costs and benefits of doing business internationally. U.S. Assistant Secretary of Commerce Steve Haro says Indiana is a "massive trade state," and calls it a model of how international trade can be a successful economic driver for the entire country. Haro, Indy Chamber President Michael Huber and Columbus-based Cummins Inc. (NYSE: CMI) Chief Executive Officer Tom Linebarger took part in a policy briefing today focusing on the TPP.

Haro says Cummins is a poster child for how doing business internationally can boost a company's bottom line. The engine maker does business in 190 countries, to the tune of $3 billion in exports per year.

President Barack Obama is a vocal supporter of the 12-nation trade deal, saying it will eliminate more than 18,000 tariffs other countries have levied on American exports. Haro says the deal would help mid-sized companies address the main hurdles to international trade: access and cost. The Indy Chamber also supports TPP as part of its economic development advocacy agenda.

Many opponents of the measure suggest it will only help large corporations and cost American jobs. Haro suggests the TPP has become a "boogeyman" for globalization, mechanization and digitization. He argues, however, that those economic trends will continue, regardless of whether the U.S. ratifies the agreement.

Leaders from the nations approved the deal earlier this year, but it must still be ratified by their individual governments. President Obama has said he hopes for a vote before he leaves office.

  • Perspectives

    • Making Numbers Work Harder For You

      Sencha CEO Art Landro believes the world has created more data in the last two years than in the preceding 5,000, and that we'll probably create even more than that before this year ends. In every aspect of our lives, we're absolutely drowning in data.

    More

Events



  • Most Popular Stories

    • Methodist Sports Medicine Acquires Bloomington Clinic

      Indianapolis-based Methodist Sports Medicine is adding to its portfolio. The company has acquired Bloomington Bone & Joint Clinic, though financial details were not disclosed. The two companies will officially merge to become Methodist Sports Medicine Bloomington in April.

    • IU Effort Sets Sights on Orange County

      Indiana University's Center for Rural Engagement will partner with Orange County for its second Sustaining Hoosier Communities project. Through the collaboration, more than 500 students in 15 courses will take part in work on economic, health and quality of life projects in the southwest central Indiana county throughout the academic year. Planned efforts include a community wellness initiative, an incubator kitchen and a youth artisan apprenticeship program.

    • Indy as Amazon 'HQ2' Finalist a 'Powerful Statement'

      The chief executive officer of the state's technology growth initiative is comparing efforts to land Indianapolis a planned, $5 billion Amazon.com Inc. (Nasdaq: AMZN) headquarters to the city's 2012 Super Bowl bid. TechPoint's Mike Langellier says Indy's inclusion on a list of 20 finalists makes a "powerful statement" to other companies looking for prime locations. Langellier said the city meshes with what Amazon is seeking in areas including...

    • Indianapolis Among Amazon 'HQ2' Finalists

      Seattle-based Amazon.com Inc. (Nasdaq: AMZN) has named Indianapolis one of 20 finalists for the location of a second corporate headquarters. The company accepted bids late last year for what it expects to be a more than $5 billion investment that could bring up to 50,000 jobs with it. Chicago and Columbus, Ohio were the other two Midwest cities still in the running. Amazon says its "HQ2" will be "a full equal to our current campus in Seattle."

    • New Nonstops For South Bend, Fort Wayne

      New nonstop flights are coming this summer to South Bend and Fort Wayne. American Airlines to restart operations at South Bend International Airport with twice-daily flights to Dallas/Fort Worth International Airport and Charlotte Douglas International Airport. The airline is also adding daily nonstop service between Fort Wayne International Airport and Philadelphia International Airport.