U.S. Chamber Welcomes Plans for Trade Agreement on Services

On January 15, the Chamber welcomed the Obama administration's letter of notification to Congress that the United States intends to initiate negotiations within 90 days for an International Services Agreement (ISA) to liberalize trade in services. A group of nearly 50 countries plans to launch negotiations for the ISA early this year. "The International Services Agreement will be an economic boost for the U.S. and the world economy," said Myron Brilliant, the Chamber's senior vice president for international affairs. "It will create new markets for U.S. exporters and generate a host of business and job opportunities from coast to coast."

Ways and Means Chairman Dave Camp (R-MI) and Trade Subcommittee Chairman Devin Nunes (R-CA) issued a statement supporting an ambitious ISA. Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch issued a favorable statement as well. The U.S. leads the world in services exports, which surpassed $600 billion last year. Visit the U.S. Trade Representative's website on Services & Investment to learn more. For further information please contact Christopher Wenk, Senior Director for International Policy (cwenk@uschamber.com)