Washington DC – The National Foreign Trade Council (NFTC) tonight applauded the U.S. Senate for a favorable vote on the motion to invoke cloture on legislation to retroactively renew the Generalized System of Preferences (GSP) and the Trade Adjustment Assistance (TAA) program. Though the Senate is scheduled to begin voting on amendments to the bill tomorrow afternoon, the NFTC called on Senators to pass the bill without amendments, as agreed to in the bipartisan compromise, to ensure the swift passage of the pending free trade agreements (FTAs), TAA, GSP and the Andean trade preferences.
The NFTC released the following statement:
“Tonight’s vote not only signals movement of these two programs, but also the broader trade agenda, which has been waiting in the wings for action for far too long. With this vote and subsequent votes in the Senate this week, we will be one step closer to passage of the long-stalled trade agreements with Colombia, Korea and Panama. While we expect that amendments will be offered on the GSP/TAA legislation, we call on the Senate to pass the bill as soon as possible without amendments to ensure that the FTAs, TAA and preference programs are approved or renewed without further delay.
“The next few weeks will be critical on the trade front, and it is good to see that the ball is finally rolling. The NFTC strongly urges Congress and the Administration to stay on course and continue working together in a bipartisan manner to renew faith with American workers and our trading partners around the globe.”