TechNet, a trade group representing companies such as Amazon.com Inc. and Facebook Inc., endorsed the Trans-Pacific Partnership trade deal on Monday.
“This agreement supports U.S. technology leadership around the globe, and will drive economic growth and job creation here at home,” TechNet President and CEO Linda Moore said in a statement. “The U.S. technology sector has grown into a leading force in the U.S. economy. Yet, our nation’s ability to continue to lead in this sector is dependent on access to the fastest growing markets in the world and the uninhibited flow of data across borders.”
The Trans-Pacific Partnership, which was finalized in October, is a trade agreement between the United States and 11 nations that border the Pacific Ocean, including Chile, Australia and Japan. The agreement would remove more than 18,000 tariffs imposed by other countries on American-made goods, according to the White House
TechNet said it supports the deal because it will “increase fair competition and consumer protection in the tech sector” and because it has “guarantees of nearly unrestricted cross-border data flows between TPP member countries.”
TechNet is the latest group to lend its support to the trade deal, which requires congressional approval before taking effect. Last week, Business Roundtable, the National Association of Manufacturers and the U.S. Chamber of Commerce announced their support for the trade pact.