| June 20 , 2007 | For Immediate Release |
Contact: Jenny Zawila (202) 336-7962 |
Washington, DC – June 20, 2007 – Representing more than 420 companies and trade associations from virtually every sector of the U.S. economy, Trade for America today called on Congress to support renewal of the president’s trade promotion authority (TPA). Slated to expire on June 30, 2007, TPA gives the president authority to negotiate free trade agreements (FTAs) for Congressional approval on an up-or-down basis within a specified time frame. Trade for America believes TPA is vital to ensuring that American businesses, agriculture, workers and consumers continue to benefit from free trade.
“Thanks to the leadership of Chairman Rangel (D-NY) and Ranking Member McCrery (R-LA), a proactive agenda can move forward,” said Trade for America Co-Chair Leslie Griffin, Vice President, International Governmental Affairs, New York Life Insurance Company. “In that spirit of bipartisanship, we encourage Congress to turn its attention to capturing new trade opportunities for the benefit of this country. Renewal of the president's trade promotion authority is essential to U.S. efforts to lead on trade.”
Without TPA, American businesses, agriculture and workers will be at a competitive disadvantage in the global economy. TPA is required in order to achieve a successful completion of the Doha Round of trade talks, which provide the single greatest opportunity to reduce barriers globally. TPA is also needed to move forward on new bilateral, sub-regional and regional trade agreements so that the United States can keep pace with our largest economic competitors; Brazil, China, the EU, India and Japan, which are all moving to negotiate new bilateral and regional trade agreements that will put our businesses, farmers and workers at a serious disadvantage.
“We can’t continue to sit on the sidelines where trade is concerned; every major trading nation in the world is actively negotiating free trade agreements,” said Scott Miller, Director, Global Trade Policy for Procter & Gamble and a co-chair of Trade for America. “Currently there are approximately 300 free trade agreements around the world and many more in developed stages of active negotiation that exclude the U.S. If TPA is not renewed, the United States will quickly fall further behind our competitors.”
As a part of its national campaign to renew TPA, Trade for America today unveiled a comprehensive Web resource, TradeforAmerica.org, which draws together dozens of related studies, facts and resources to demonstrate the need for renewal of TPA. Developed by a diverse group of companies and trade associations from virtually every sector of the American business community, the site is the latest initiative from Trade for America as a part of its proactive agenda to advance our nation’s economy.
TradeforAmerica.org houses studies and vital information that underscore the value of a strategic, forward-looking trade agenda and the cost of U.S. inaction on trade – the site plays a key role in educating Americans on how trade and economic prosperity are inextricably linked.
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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. For more information visit www.TradeforAmerica.org.