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Free Trade is Vital for America’s Economy

Here’s food for thought . . . 95 percent of the consumer base for tech products is outside of the United States.

Without free trade, our companies and workers lack access to the foreign markets on which American workers depend in order to sell American goods and services.

How important is free trade to America and Silicon Valley’s economy? Today, nearly 40 million U.S. jobs depend on trade, meaning more than 1 of every 5 American workers has a job linked to the export and import of goods and services.

American manufacturing employees in the “most trade-intensive industries” earn on average 56 percent more than those in manufacturing companies that were less engaged in trade.

That’s why President Obama has staked as one of his highest priorities the passage of Trade Promotion Authority, to help him complete the Trans-Pacific Partnership involving the U.S. and 11 other Pacific Rim countries. Combined, those 12 countries represent 40 percent of the world’s GDP and one-third of global trade.

For more than 20 years, American presidents have been granted “fast-track authority” by Congress. It is critical to the success of Silicon Valley that President Obama be granted this same level of authority.

Without Trade Promotion Authority, manufacturers and American workers risk being locked out and left behind as other countries negotiate dozens of trade agreements that exclude the United States.

That’s why the vote on Trade Promotion Authority passed overwhelmingly in the United States Senate, with a bi-partisan vote of 62-37. If Trade Promotion Authority stalls in the House, it will hurt almost every household in America. Urge your member of Congress to stand with Silicon Valley and America’s innovation economy. Urge them to vote yes for free trade.

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