| May 11 , 2007 | For Immediate Release |
Contact: Laura Gentles 202-326-1781 |
Progress on renewing Trade Promotion Authority critical to
U.S. job formation and economic growth
Washington, DC – The Trade for America coalition today praised members of Congress and the Administration for rebuilding bipartisan support and reaching an agreement to advance a trade agenda that will strengthen United States competitiveness and geopolitical influence and promote the renewal of presidential negotiating authority.
Trade for America congratulated members of Congress, most notably House Ways and Means Chairman Rangel (D-NY) and Ranking Member Jim McCrery (R-LA), for their efforts to keep trade at the forefront of the country’s agenda.
Trade for America is a diverse group of companies and trade associations from virtually every sector of the American business community united to renew Trade Promotion Authority, which is set to expire on June 30, 2007.
“The bipartisan consensus is good news for the tens of millions of workers whose jobs depend on trade,” said Trade for America Co-Chair Leslie Griffin, Vice President, International Governmental Affairs, New York Life Insurance Company. “With a renewed commitment from both parties to work together on trade, that number will continue to grow, but renewal of trade authority is critical.”
Griffin said that without presidential trade negotiating authority, however, American businesses, agriculture and workers may be at a competitive disadvantage in the global economy.
Regardless of what happens in the U.S., our global competitors are not standing still on trade. There are approximately 300 free trade agreements around the world and many more in developed stages of active negotiation.
Without the renewal of negotiating authority, the United States will not be in a position to negotiate new trade agreements; this is an outcome with costly repercussions. America’s largest economic competitors – including China, the EU, India and Japan – are all aggressively moving forward in forging new bilateral and regional trade agreements that will exclude the United States and put our businesses, farmers and workers at a disadvantage.
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 products and services and grow our economy.
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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.