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NFTC Applauds Committee Approval of Free Trade Agreements, Urges Compromise to Move TAA and Preference Programs in Tandem
Date: 7/7/2011
Written By: Jennifer Cummings, The Fratelli Group for NFTC, (202) 822-9491

Washington, DC The National Foreign Trade Council (NFTC) praised the Senate Committee on Finance and the House Committee on Ways and Means for favorably reporting out the pending free trade agreements (FTA) with Colombia, Panama and Korea during mock mark-ups held today. The NFTC welcomed the Senate Finance Committee's advancement of the Trade Adjustment Assistance (TAA) program as part of its approval of the implementing legislation for the Korea agreement. As implementing legislation considered today by the Ways and Means Committee did not include TAA, the NFTC urged both sides to find a way to move both the FTAs and TAA in tandem.

The NFTC released the following statement:

"We applaud the chairmen of both committees for their leadership in bringing the FTAs up for a vote so that we can finally realize the benefits of the agreements in the near future.

"We are encouraged that the Senate Finance Committee favorably reported the Korea bill with TAA included, and we urge House and Senate leaders to come together to ensure that in the end the FTAs and TAA, along with the other preference programs, are considered and approved together.

"All of these agreements and programs are critical pieces of the trade agenda and should move in tandem as a package before the August recess."

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About NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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