The Technology CEO Council (TCC) today applauded President Obama's call for action on international trade in his State of the Union Address, in which he urged lawmakers to approve a bipartisan trade promotion authority (TPA) bill. President Obama also signaled plans to continue his push for the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), deals he said will protect American workers by creating jobs and increasing wages here in the U.S.
"The business community welcomes the President's focus on international trade as a driver for economic growth in the United States," said TCC Chair Ursula M. Burns, chairman and CEO of Xerox Corporation. "We stand ready to work with Congress and the Administration to support legislation needed to open up new market opportunities to U.S. innovators, entrepreneurs, farmers, manufacturers, and services providers."
The technology industry is a vital part of the American economy, employing nearly 6 million U.S. workers in 2012. Yet over 70 percent of spending on information and communications technology (ICT) occurs outside the U.S. In 2012, U.S. ICT exports exceeded $270 billion, or more than $1 out of every $8 in total U.S. exports. All 50 states and 435 congressional districts plus the District of Columbia export ICT hardware, software and services. Access to global markets enables U.S. technology firms to make substantial investments in research, capital spending, worker training and education in the U.S.