WASHINGTON--(BUSINESS WIRE)--MetLife, Inc. (NYSE:MET) applauds action by both the House and the Senate to renew Trade Promotion Authority (TPA) legislation.
The final congressional approval of TPA provides a path forward for the pending Trans Pacific Partnership (TPP), which is critical to U.S. companies doing business in the Asia-Pacific region. The trade agreements facilitated by TPA will encourage access to the financial protection and other life insurance products that are in growing demand globally.
“Passage of TPA equips our nation’s trade negotiators and Congress to collaborate on trade agreements that will ensure U.S. companies can compete on a level playing field in markets around the world,” said MetLife Chairman, President and CEO Steven A. Kandarian. “I congratulate Congress for taking this important step, which will help U.S. companies grow in an increasingly global economy.”
International trade agreements, including the TPP, are essential to fostering the growth of service industries, including financial services. Service industries account for more than 75 percent of employment in the U.S. and more than 70 percent of the nation’s economic output, according to the Coalition of Services Industries.
MetLife, Inc. (NYSE:MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.