WCIT Releases 2016 Policy Priorities
Each year, WCIT identifies key trade policy issues that impact Washington employers and can increase our state's international competitiveness. For 2016, WCIT will focus on the following:
Promote congressional approval of the Trans-Pacific Partnership:
One-third of Washington's goods exports and much of our services exports go to TPP countries, while our retailers and manufacturers use global supply chains that source from the region. The TPP would level the playing field for our employers and workers, grow our exports, and lower costs for our manufacturers, retailers and consumers by reducing foreign barriers to our products and establishing consistent, high-standard rules.
Ensure a fully functioning Export-Import Bank of the United States:
The Ex-Im Bank was reauthorized by Congress in December 2015, but cannot fully function until Congress appoints new board members. Our businesses need reliable export financing to remain globally competitive, so the appointment of new board members is essential.
Increase Washington port competitiveness:
As a
gateway to and from the rest of the world, Washington must ensure that its ports remain competitive, reliable and efficient. By reforming policies like the Harbor Maintenance Tax, investing in port and freight infrastructure, and ensuring our ports remain open and operating, we can compete against ports in Canada and elsewhere.
Ensure maximum impact from local, state and federal freight mobility investments:
With passage of both federal surface transportation funding and a state transportation package in 2015, the future for Washington's freight mobility infrastructure looks brighter than ever. However, we must ensure these investments are made in the most effective way on projects that will achieve maximum impact for our state's residents.
Conclude a high-standard, comprehensive Transatlantic Trade and Investment Partnership (TTIP):
The EU accounted for 10% of Washington's goods exports in 2014, and five of the top ten destinations for our services exports. A successful TTIP could increase Washington's exports to the EU by 26% and create 17,000 jobs in Washington state.
Increase U.S. competitiveness in trade with China and India:
China and India are some of Washington's top trading partners, with $20.7 billion in goods exports to China and $2 billion of goods exports to India in 2014. Yet many barriers - such as disagreements over market access or intellectual property rights infringements - prevent these trade relationships from being as strong as they could be.
Conclude negotiations on the Trade in Services Agreement (TiSA) and make progress on new WTO trade liberalization initiatives:
Services exports from Washington state reached an estimated $26 billion in 2013. Agreements like the Trade in Services Agreement (TiSA) could boost our state's economy by lowering barriers to trade in services. Other WTO trade liberalization initiatives like the Environmental Goods Agreement and the Trade Facilitation Agreement will also open up new opportunities for Washington's global businesses.
Support efforts to open new markets and reduce tariffs to benefit Washington employers & consumers:
Washington's trade economy is based on our ability to competitively export products while leveraging global supply chains to create affordable goods that are sold across the country and world. We need to open new markets to our goods and services by fighting protectionist barriers that artificially bar Washington exports, as well as pass new policies like the Affordable Footwear Act and the US OUTDOOR Act that would save consumers money and help our retail companies create high paying local jobs.
Ensure the ability of targeted professionals and tourists to live, work and visit in Washington state:
International tourism is our state's second largest services export, and many Washington employers rely on foreign employees for their workforce. Congress needs to pass immigration and travel visa reforms that balance important protections for our citizens with the needs of our economy. In addition, the Seattle-Tacoma International Airport must make key investments in facilities that keep it competitive as a global transit hub.
Address tax policies that impact Washington's international competitiveness:
Recent tax policy changes have increased limitations and regulatory burdens that make it more difficult for many Washington businesses, particularly small and medium-sized, to use banking services in countries where they do business. We need to ensure a balance between regulation and ease of business for international financial services.