This week, President Trump issued several executive orders, two in particular that will have lasting impacts on Silicon Valley business: The Trans-Pacific Partnership [TPP] and Immigration.
The Trans-Pacific Partnership supports more than 15 million American jobs, many of which are located in California and Silicon Valley. Further, United States leadership on TPP is larger than economics; it increases the likelihood that the US, and not China, will be the economic driver of the Pacific trading zone. For these reasons we disagree with President Trump’s decision to withdrawal from the agreement. That said, now that the action is taken, we look forward to working with the new administration on trade policies that continue to increase United States global competitiveness, keep trade free and open, and strengthen economic ties between the critical nations along the Pacific Rim.
The silicon valley organization believes that economic freedom is imperative to long-term business attraction, retention and growth, and that nowhere is that more pronounced than throughout Silicon Valley. We support federal policies that allow employers to compete in the global marketplace, and that includes access to the best talent and innovative thinking from around the world. Further, we support policies that promote the openness and inclusion that have come to define our region and make it the world's economic engine.
The SVO believes that the policy actions taken this week - withdrawing from free trade agreements, reducing the supply and availability of work visas, and building walls around our borders in a metaphorical and literal sense - do the exact opposite and are impediments to long-term economic stability.