| June 29 , 2007 | For Immediate Release |
Contact: Jenny Zawila (202) 336-7962 |
Trade for America calls on Congress to renew TPA so
U.S. can continue opening markets abroad
Washington, DC –With the expiration of Trade Promotion Authority on June 30, U.S., companies, farmers, and workers face the prospect of losing foreign market share to their global competitors and our nation’s role as a leader of the global economy is at risk.
The Trade for America coalition, a diverse group of companies and trade associations from virtually every sector of the American business community, strongly urged Congress last week to immediately renew trade promotion authority (TPA) so that the nation’s businesses, farms, workers and consumers continue to glean the benefits of international trade.
With 95 percent of the world’s population beyond our borders, the United States must look to international trade and investment to open markets for American goods and services to grow the economy.
The United States cannot sit on the sidelines, as our foreign trading partners push ahead with agreements that undercut our nation’s manufacturers, service providers, workers and farmers. TPA is required in order to achieve a successful completion of the Doha Round of trade talks, which provides the single greatest opportunity to reduce barriers globally, and gives our trade negotiators credibility at the negotiating table.
“Bipartisan support for trade liberalization has grown recently, but without TPA the nation’s trade agenda is jeopardized,” said Trade for America Co-Chair Leslie Griffin, Vice President, International Governmental Affairs, New York Life Insurance Company. “With our global competitors moving forward rapidly with their own trade deals; this is the worst possible time for our nation to be on the sidelines.”
Since the enactment of the Trade Act of 1974, every U.S. president has had TPA. TPA gives our trade negotiators credibility at the negotiating table by requiring Congress to vote “up or down” on a trade agreement without amendments and within a given period of time.
Today one in five American jobs- more than 31 million- are related to international trade and investment, making it vital for our country’s economic future that the United States maintain a competitive edge in the global marketplace. By moving forward with the renewal of TPA, the United States will create new opportunities to sell products and services abroad, and consumers will benefit from lower prices and greater choices here at home.
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Trade for America is an umbrella group representing diverse interest of service-providers, manufacturers, agriculture and many other stakeholders all dedicated to continuing to grow the U.S. economy through liberalized trade and investment policies, and keeping America competitive in the global economy.