U.S. Trade Representative Says New Trade Agreements Will Strengthen Texas Exports
The nation’s top U.S. trade official came to San Antonio Monday to press for the president’s trade agenda.
U.S. Trade Representative Michael Froman said the Trans-Pacific Partnership (Asia) and the Transatlantic Trade and Investment Partnership (European Union) could increase the already record-breaking numbers in products coming from Texas.
The trade ambassador highlighted Texas exports that he said have the ability to unlock opportunities across America.
Texas has been setting export records - $279 billion dollars last year alone. Ambassador Michael Froman said there is a wide range of Texas products that can be abroad.
"Texas is the sixth-largest agricultural exporter in the United States. You've got machinery, transportation machinery, you've got computers. You have a lot of high-tech businesses. Rackspace Company here, which is a cloud computing company with 200,000 clients in 120 countries. Concord Supply Company which produces products for industrial applications particularly for steel, and 90 percent of their product is exported," he said.
Froman said the state’s entrepreneurial culture, skilled workforce, and abundant sources of affordable energy combine to make Texas an attractive place to invest. He saidTexas is poised to take advantage of new U.S. partnerships with Asia and Europe.
"And we're seeing a manufacturing renaissance going on. We're seeing American companies in-sourcing, bringing production back to the United States. We're seeing new investment in the United States both from domestic companies and from foreign companies. And in part, because these trade agreements are going to give them access to the global market from here," he said.
Three of Texas' five export markets will be covered by the new U.S. partnerships, which the president says will be a job engine for Texas and other strong exporters.