Chemicals trade must be allowed to flow freely in and out of the United States in order to reach a wide range of global consumers while retaining and creating American jobs. Emerging economies are especially important as they are increasingly turning to American chemistry to help create products that curb emissions, improve sustainability, and fight climate change.
To ensure other countries can reap the full energy- and emissions-saving benefits of chemistry, ACC is urging the Biden Administration to:
- Open new export destinations for U.S.-made chemicals and plastics through bilateral, regional, plurilateral, and multilateral agreements and negotiations, including by:
- Continuing and concluding ongoing free trade agreement negotiations;
- Reaching a China Phase 2 trade deal that repeals additional U.S. tariffs and China’s retaliatory tariffs, and lowers China’s most-favored-nation (MFN) tariffs;
- Entering into new free trade agreement negotiations with key trading partners and emerging markets;
- Exploring entry into existing regional agreements such as the Comprehensive and Progressive Trans-Pacific Partnership;
- Pursuing accessions to the World Trade Organization (WTO) Chemical Tariff Harmonization Agreement (CTHA); and
- Pursuing focused tariff elimination with key trading partners and emerging markets wherever possible.
New Trade Agreement Could Eliminate Tariffs on $5.7 Billion in Two-Way Chemicals Trade, Reduce Costs and Create Efficiencies Through Greater Regulatory Cooperation
With $45 Billion in Two-Way Chemicals Trade in 2017, U.S. Chemicals Manufacturers Would See Significant Cost Savings from Tariff-Elimination in U.S.-EU Trade Agreement, ACC Says
U.S. Negotiators Should Draw From USMCA Where Beneficial, Use Japan Talks As Springboard For Additional Trade Agreements, ACC Says