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Statement of Jennifer Sanford on Passage of Trade Package

Congress has now approved a landmark trade package including Trade Promotion Authority and Trade Adjustment Assistance.  This is a significant accomplishment that just a week ago looked in serious doubt.

This trade package will give President Obama the ability to conclude negotiations on the TransPacific Partnership; it gives Congress the authority to establish priorities in those negotiations, and it provides $1.8 billion for worker re-training.

Free trade supports American jobs.  At our facility in Research Triangle Park, North Carolina, for instance, some 4,500 plus jobs are supported by free trade, including hundreds of jobs at our technical assistance center.  Put simply, our engineers in North Carolina couldn’t help customers in Europe, Asia and the Americas if data is not able move freely around the world. The TPA bill supports this kind of digital trade.

The economic impact of free trade goes well beyond one company or one industry.  It affects every sector of every industry in the economy.  According to the Business Roundtable, free trade supports 39.8 million jobs across the nation.

On behalf of Cisco, I’d like to thank President Obama for his leadership on trade, as well as Republican and Democratic members of both the House and the Senate for their courageous votes on this issue.

Enacting this legislation is a critical part of ensuring American competitiveness over the next generation.

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Statement of Jeff Campbell on ITA Expansion

“The agreement between the United States and China to expand the scope of the Information Technology Agreement represents a major breakthrough in the global trade agenda. This agreement is expected to eliminate duties on over 200 information and communications technology (ICT) product categories, representing approximately $1 trillion in annual global ICT sales. Now that the U.S. and China have reached agreement, we hope negotiators will resume talks early next month at the World Trade Organization in Geneva to expand the bilateral agreement to include more nations.  In doing so, this will help expand access to affordable technology, which will help improve standards of living and economic development around the world.”

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Smart Trade: Cisco Is Helping Revolutionize Legacy Trade Practices Around the World

Trade (also known as “commerce,” “financial transaction,” and “barter,” among other terms) involves the transfer of ownership for goods and services from one person or entity to another by receiving something in exchange from the buyer. A network that allows trade is called a market.

Trade originated with the start of communication in prehistoric times. Trading was the main facility of prehistoric people, who bartered goods and services long before the introduction of modern-day currency. Peter Watson traces the history of long-distance commerce to 150,000 years ago (source: The Mediterranean in History, David Abulafia, Getty Publications, 2011).

Practices in modern cross-boundary/country trade have remained relatively static for the past 150 years. The only widespread implementation of technology to facilitate trade has been the advent of phone, fax, and (since 2002) EDI – Electronic Data Interchange (source: “Integration of Electronic Data Interchange (EDI): A Review,” Gengeswari, K. and Abu Bakar Abdul Hamid). More recently, widespread use of email has augmented phone- and fax-based communications.

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