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According to Commerce Secretary Penny Pritzker, leaders from several TPP trading partners have made it clear that a U.S. failure to ratify the deal before President Obama leaves office “will require them to hedge their bets and consider closer relations with others in the region” like China.
Commerce Secretary Penny Pritzker said small- to medium-sized businesses are the “biggest beneficiaries” of the Trans-Pacific Partnership (TPP) trade agreement and that failing to ratify the deal would broadly hurt the U.S.'s reputation in the rapidly growing Pacific region.Fact: 98% of U.S. exporters are small businesses and they account for more than 1/3 of U.S. exports.
Read more: Pacific deal will boost exports for small businesses | TheHill
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