Tuesday, July 22, 2014
In today?s hyper-connected world, free trade and open markets are critical for the success of the consumer electronics industry. Many of CEA?s member companies rely on political engagement from the U.S. government
to promote free trade and protect their innovations at home and abroad.
One such company, Kimber Kable, is a global expert in sound technology and audio cable, exporting approximately 60 to 70 percent of its products to nearly 60 countries. Founder, Owner and President Ray Kimber traveled to Washington, D.C. last week to
testify before the U.S. Senate Committee on Finance and help ensure that companies like his own are protected by Free Trade Agreements (FTAs).
?FTAs increase confidence and certainty for U.S. industry doing business in those partner countries,? Kimber stated, referring to recent trade agreements with Korea, Columbia and Panama. ?In 2012, America?s free trade agreement partners purchased 12.8 times more goods per capita from the United States than did other countries.? When rules-based environments are established with FTAs, it gives U.S. companies the ability to grow and operate knowing that their innovations will be protected.
Kimber also noted CEA?s current work with the U.S. Trade Representative (USTR) on a variety of critical trade agreements - such as the renewal of Trade Promotion Authority (TPA) bill, conclusion of the Trans-Pacific Partnership (TPP) agreement, the Trade In Services Agreement (TISA) and the Trans-Atlantic Trade and Investment Partnership (T-TIP) agreement - and appealed to Congress to remain engaged in advancing and updating these agreements. One deal currently being negotiated, the Information Technology Agreement (ITA), was established almost 20 years ago and has not been updated since. As such, the agreement does not currently support modern electronics such as videogames, consoles, or audio and video systems. A successful conclusion of the expansion negotiations would result in additional product coverage for approximately $800 billion in global tech trade.
As a representative of the
$211 billion U.S. consumer electronics industry, CEA works to help domestic manufacturers, such as Kimber Kable, remain globally competitive. We applaud Ray Kimber on his stance before Congress, and thank him for working to protect the innovation that keeps the consumer electronics industry growing.