Monthly Archives: May 2016

Silicon Valley’s Economy Depends on Trade

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May 25  |  Tech & Innovation  |   Carl Guardino

Here’s food for thought . . . Silicon Valley’s robust economy depends on trade

In a recent survey of 600 Santa Clara County voters, commissioned by the Silicon Valley Leadership Group, President Obama’s 7-year effort to expand the trade of American goods and services to eleven countries in the Asia-Pacific is supported by a two-to-one margin.

The Trans-Pacific Partnership – or TPP – is a Trade Agreement between the United States and 11 countries along the Pacific Rim, with nearly 800 million people, accounting for 40 percent of global trade. Along with the United States, the countries engaged in the Trans-Pacific Partnership include Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.

President Obama deserves praise for successfully negotiating with the other 11 countries for the strongest environmental standards of any U.S. Trade Agreement in history.

The President also successfully negotiated with the other 11 countries for the highest labor standards of any U.S. Trade Agreement in history, including the rights of workers in other countries to form Unions and to establish minimum wages for workers.

In Santa Clara County alone, there are 105,000 local jobs that are dependent on Trade with other countries. Those local jobs support tens of thousands of local families who drive our region’s economy.

And jobs tied to trade pay better than jobs that do not depend on trade. In fact, American jobs that are tied to trade pay – on average – 18 percent higher salaries and benefits than the same type of job that is not tied to trade.

When Santa Clara County voters were asked if they support or oppose President Obama’s efforts to have Congress pass the Trans-Pacific Partnership before he leaves office in January of 2017, the results were clear:

* 57 percent support the President on trade
* Only 29 percent oppose the President on trade
* With 14 percent offering no opinion

The Trans-Pacific Partnership – a Trade Agreement carefully crafted by President Obama – is good for working families throughout Silicon Valley; and deserves the support of Congress before he leaves office next year.

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