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HLIGHTS South China Business Journal
Chamber Welcomes
Release of TPP Text
IN THE EARLY hours of November 5, the Office of the U.S. Senator Hatch: Inadequate Intellectual Property
Trade Representative and trade ministries of the other 11 Protections Could Complicate TPP Passage
Trans-Pacific Partnership (TPP) nations released the complete
text of the TPP agreement, negotiations for which were WASHINGTON - In a speech at the U.S. Chamber of Commerce
concluded on October 5 in Atlanta. Later that day, President today, Finance Committee Chairman Orrin Hatch (R-Utah)
Obama notified Congress of his plan to sign the agreement, outlined why protections for U.S. intellectual property rights
which kicks off a 90-day congressional review period before (IP) are necessary in international trade deals, including
the President could sign the agreement (i.e., no sooner than the Trans-Pacific Partnership, and highlighted how Trade
February 3). Promotion Authority (TPA) requires the administration to
consult with Congress extensively before it considers the deal
U.S. Chamber of Commerce Executive Vice President and Head for a vote.
of International Affairs Myron Brilliant issued the following
statement: “Passing a good TPA law doesn’t, by itself, guarantee that
we’ll see good trade agreements. Sure enough, the TPA statute
“The Chamber welcomes the release of the text of the TPP. sets high standards for the administration and for our trade
As we’ve long said, a high-standard trade agreement covering negotiators, but it takes additional hard work to ensure that
nearly 40% of the world economy is a worthy objective that our trade agreements meet those standards,” Hatch said.
enjoys our full support.
Hatch went on to detail how, without adequate protections,
“Since negotiations were concluded last month, the Chamber America’s competitors abroad can compromise IP rights.
and many others in the business community have reserved
judgment pending a close examination of the agreement’s text. “Our economic competitors and geopolitical adversaries are
Many of our members will now be pouring over the agreement well aware of the importance of IP to the U.S. economy,”
to determine whether and how their objectives were addressed. Hatch continued. “And, whether it is by stealing American
intellectual property directly or by creating bureaucratic
“Too often, steep tariffs, poor intellectual property protection, and regulatory mechanisms to essentially do the same thing
and other barriers deny a level playing field for U.S.-made indirectly, a number of foreign governments have long been
products and services in the Asia-Pacific region. To the degree engaged in a full-time effort to undermine our IP advantage.”
the TPP overcomes these obstacles, it has the potential to be a
game changer for American workers, farmers, and companies. Hatch concluded by saying that if the administration’s trade
deal fails to meet high standards for intellectual property rights
“We look forward to examining the TPP’s details and working in TPP, that a renegotiation may be necessary.
with our members to determine the Chamber’s next steps on
this important matter.” “While I understand that parties have deemed the
negotiations closed, the agreement cannot enter into force
Additionally, on November 6 Senate Finance Committee if Congress doesn’t agree to it. At the end of the day, USTR
Chairman Orrin Hatch (R-UT) addressed the Chamber’s Global may need to go back to the negotiating table and try again.
IP Summit and spoke on the TPP. That result is not ideal, but it is certainly not unprecedented,”
Hatch said. “I understand that renegotiation may be difficult,
particularly with so many parties involved. But at the end of
the day, the alternative to renegotiation may very well be no
TPP at all.”
14
Chamber Welcomes
Release of TPP Text
IN THE EARLY hours of November 5, the Office of the U.S. Senator Hatch: Inadequate Intellectual Property
Trade Representative and trade ministries of the other 11 Protections Could Complicate TPP Passage
Trans-Pacific Partnership (TPP) nations released the complete
text of the TPP agreement, negotiations for which were WASHINGTON - In a speech at the U.S. Chamber of Commerce
concluded on October 5 in Atlanta. Later that day, President today, Finance Committee Chairman Orrin Hatch (R-Utah)
Obama notified Congress of his plan to sign the agreement, outlined why protections for U.S. intellectual property rights
which kicks off a 90-day congressional review period before (IP) are necessary in international trade deals, including
the President could sign the agreement (i.e., no sooner than the Trans-Pacific Partnership, and highlighted how Trade
February 3). Promotion Authority (TPA) requires the administration to
consult with Congress extensively before it considers the deal
U.S. Chamber of Commerce Executive Vice President and Head for a vote.
of International Affairs Myron Brilliant issued the following
statement: “Passing a good TPA law doesn’t, by itself, guarantee that
we’ll see good trade agreements. Sure enough, the TPA statute
“The Chamber welcomes the release of the text of the TPP. sets high standards for the administration and for our trade
As we’ve long said, a high-standard trade agreement covering negotiators, but it takes additional hard work to ensure that
nearly 40% of the world economy is a worthy objective that our trade agreements meet those standards,” Hatch said.
enjoys our full support.
Hatch went on to detail how, without adequate protections,
“Since negotiations were concluded last month, the Chamber America’s competitors abroad can compromise IP rights.
and many others in the business community have reserved
judgment pending a close examination of the agreement’s text. “Our economic competitors and geopolitical adversaries are
Many of our members will now be pouring over the agreement well aware of the importance of IP to the U.S. economy,”
to determine whether and how their objectives were addressed. Hatch continued. “And, whether it is by stealing American
intellectual property directly or by creating bureaucratic
“Too often, steep tariffs, poor intellectual property protection, and regulatory mechanisms to essentially do the same thing
and other barriers deny a level playing field for U.S.-made indirectly, a number of foreign governments have long been
products and services in the Asia-Pacific region. To the degree engaged in a full-time effort to undermine our IP advantage.”
the TPP overcomes these obstacles, it has the potential to be a
game changer for American workers, farmers, and companies. Hatch concluded by saying that if the administration’s trade
deal fails to meet high standards for intellectual property rights
“We look forward to examining the TPP’s details and working in TPP, that a renegotiation may be necessary.
with our members to determine the Chamber’s next steps on
this important matter.” “While I understand that parties have deemed the
negotiations closed, the agreement cannot enter into force
Additionally, on November 6 Senate Finance Committee if Congress doesn’t agree to it. At the end of the day, USTR
Chairman Orrin Hatch (R-UT) addressed the Chamber’s Global may need to go back to the negotiating table and try again.
IP Summit and spoke on the TPP. That result is not ideal, but it is certainly not unprecedented,”
Hatch said. “I understand that renegotiation may be difficult,
particularly with so many parties involved. But at the end of
the day, the alternative to renegotiation may very well be no
TPP at all.”
14
