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Calls For Timely Renewal of TPA to Advance Trade Negotiations to Open Markets and Boost Economic Growth
Washington DC - The National Foreign Trade Council (NFTC) today joined several other leading U.S. business groups and companies in launching Trade for America, a campaign dedicated to supporting the timely renewal of U.S. trade negotiating authority, also referred to as Trade Promotion Authority (TPA). During a press conference at the National Press Club with U.S. Trade Representative, Ambassador Susan Schwab, Trade for America underscored the importance of renewing U.S. trade negotiating authority before it expires on June 30, 2007.
"Timely renewal of TPA is vital to U.S. trade leadership in
expanding and opening markets to American firms, workers and farmers. The United
States is the world's largest trader and most open market, but 95% of the
world's population is outside the United States,” said NFTC President Bill
Reinsch. “We must, as a nation, and with a united voice, continue to negotiate
market-opening trade agreements to advance continued US economic growth and
opportunity. Above all, we need to conclude as soon as possible a
successful and ambitious Doha Round to open markets on a multilateral basis,
which will generate the most good for the most people.”
"We cannot
afford to be sidelined on trade. The world is not waiting to negotiate
market-opening trade agreements, many of which exclude the United States.
According to the WTO, between January 2004 and February 2005, over 45
preferential trade agreements were negotiated. There are well over 200 of
them today,” said Mary Irace, NFTC Vice President of Trade & Export Finance.
“Without U.S. trade negotiating authority, other countries will be unwilling to
negotiate with the United States for fear that U.S. commitments and concessions
would not hold weight. In particular, they would be unwilling to put
important politically sensitive concessions on the table.”
Today's
launch of Trade for America is comprised of a wide range of companies and trade
associations representing key sectors of the U.S. economy. All of the
groups involved, including the NFTC, believe that trade negotiating authority is
a fundamental part of U.S. global economic leadership.
According to
Irace, “We are hopeful that there will be a breakthrough on the Doha Round in
the next month or two. Timely renewal of U.S. trade negotiating authority
will demonstrate that the United States remains committed to leading the trade
talks to a successful conclusion. At a minimum, a short-term, one-year extension
of TPA should be enacted as soon as possible to ensure that the Round is
completed within a year."
"We're in support of the Administration's
push to renew this legislation with all deliberate speed and will work with
Congress over the course of the next few months in support of legislation to
extend the negotiating authority," concluded Irace.
Advancing
Global Commerce for Over 90 Years
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