An industry group representing major tech firms including Google, Facebook, Yahoo, Amazon, Twitter, Uber and eBay has endorsed the controversial Trans-Pacific Partnership trade pact plan. The TPP recognizes the Internet as an essential American export, Internet Association CEO Michael Beckerman said in a statement. Historically, pro-Internet policies have been absent from trade agreements, which is why the TPP is an important step forward for the Internet sector that accounts for 6 percent of the GDP and nearly 3 million American jobs.
It will be critical that the TPP is implemented in a way that supports the Internet economy.
While President Barack Obama backs the trade deal, it has met with strong opposition from critics including Sen. Elizabeth Warren, who attacked secrecy around the pact s drafting and has said the deal could weaken U.S. regulations that are good for Americans but might threaten foreign companies profits.
Beckerman in his statement lauded the proposed deal s prohibition on certain foreign regulations that might threaten U.S. tech firms profits. The TPP requires countries to allow the transfer of information across borders and prohibits requirements to use inefficient, localized computing facilities, Beckerman said.
The pact would also strengthen protections conferred by U.S. copyright law, Beckerman said.
The 11 countries negotiating the TPP with the U.S. are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The trade pact plan has a rocky road ahead, according to The Hill. The deal has faced opposition from progressives in Congress, and the politicized environment around the 2016 election has made congressional action far less likely, the news site said.
Photo: Sen. Elizabeth Warren (AP Photo/Susan Walsh, File)
The post Trans-Pacific Partnership trade deal endorsed by major tech group appeared first on SiliconBeat.
