Statement by Francine Lamoriello, Executive Vice President, Global Affairs The Personal Care Products Council On the Introduction of Trade Promotion Authority (TPA) Legislation
“The cosmetics and personal care products industry applauds the introduction of the Trade Promotion Authority (TPA) bill. We thank Senators Orrin Hatch (R-UT) and Ron Wyden (D-OR), and Congressman Paul Ryan (R-WI) for introducing a bipartisan bill that provides the U.S. the opportunity to negotiate global trade agreements that will foster job creation, provide new opportunities for American businesses and benefit economies around the world.
“American cosmetics and personal care products companies represent a dynamic sector of the U.S. economy. Our member companies are poised to expand their global reach to meet the increasing demand for our products worldwide. TPA and free trade agreements such as the TransPacific Partnership (TPP) and the TransAtlantic Trade & Investment Partnership (TTIP) will increase export opportunities for our industry by lowering trade and regulatory barriers, and providing more global consistency in standards, testing and labeling requirements. The cosmetics and personal care products industry is a leading sector in exports and heavily depends on trade – in 2013, exports exceeded $11 billion. Our industry is comprised of small and medium-sized companies, and free trade agreements like TPP and TTIP will offer new opportunities for these companies to expand their global reach.
“In addition to supporting the passage of TPA, the cosmetics and personal care products industry supports passage of the TPP and TTIP agreements. The nation’s beauty industry and consumers worldwide will greatly benefit from international trade provisions that are being negotiated in TPP and TTIP. Consistency in standards, testing and labeling requirements is essential to the growth of small and medium-sized companies as well as the entire beauty industry. We look forward to working with Congress on passage of TPA and urge them to act now.”