SOCMA Supports Passage Of TPP

Aug. 12, 2016
Trans-Pacific Partnership will reduce tariffs and trade barriers for specialty chemical manufacturers.

The Society of Chemical Manufacturers and Affiliates (SOCMA) announces its support for the Trans-Pacific Partnership (TPP), which would reduce tariffs and other trade barriers and level the playing field for specialty chemical manufactures in the global market, according to the organization.

The decision to support TPP, which reportedly represents 40% of world trade, follows a lengthy review of the agreement and deliberation with SOCMA members. Moving forward, the association will actively advocate for passage of TPP during the current congressional term, according to the organization.

"SOCMA has a long and proud history of supporting free and fair trade, and TPP will allow small, medium and large chemical manufacturers to be more competitive in the global economy," says SOCMA President and CEO Lawrence D. Sloan. "SOCMA acknowledges that the agreement is not perfect, but without it, the United States is resigning economic leadership to other global powers in the Asia-Pacific region."

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