The Los Angeles Times says Taiwan’s participation in the Trans-Pacific Partnership (TPP) will benefit the LA region. The TPP is a US-led multilateral free trade agreement currently being negotiated among 12 Pacific countries.
In a news report published on Thursday, the Los Angeles Times cited data from the Los Angeles County Economic Development Corp. and said that LA’s ports are getting a boost from Taiwan. That’s despite the fact that China is the county’s top trading partner.
According to the report, a third of the imports coming into the ports of Los Angeles and Long Beach are produced by Taiwanese companies based in China. Though ranking behind China, Japan and South Korea, Taiwan is the county’s fourth largest trading partner and it is increasing its influence on the local economy.
The report said that Los Angeles will benefit from Taiwan’s participation in the TPP. Economist Ferdinando Guerra who contributed to the article said that allowing Taiwan to join the regional trade pact would create more jobs and boost economic development in Los Angeles.