CEA Applauds House Approval Of Peru Trade Promotion Agreement
The Consumer Electronics Association (CEA)® today applauded the passage of H.R. 3688, the "United States-Peru Trade Promotion Agreement Implementation Act” in the U.S. House of Representatives.
According to CEA, passage of this bill marks a positive step in helping the United States to remain competitive in the global economy and further fuel the creation of jobs generated by the $148 billion consumer electronics industry. Currently, two-thirds of the 2,200 CEA member companies conduct some sort of international business, primarily in Asia, Europe, and Latin America.
“The Peru Trade Promotion agreement will help the United States to remain a great, competitive, nation because it will further level the playing field for American companies and workers. The CE industry relies upon innovation, and innovation can only flourish in a trading system free of unnecessary tariffs and obstacles” said Michael Petricone, CEA senior vice president of government affairs. “This agreement propels our nation toward the critically important goal of international market access for cutting edge CE products by eliminating harmful tariffs, and setting into place trade rules that increase transparency, and assist the fight against counterfeit goods. We urge Congress to continue this positive momentum by acting swiftly to approve the pending trade promotion agreements with Colombia, Panama and South Korea.”
Highly competitive and globally integrated, the consumer electronics industry grew 19 percent in the United States from 1990 to 2005. Much of that growth results from cutting-edge innovation and the ability for American companies to export to foreign markets.
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