Washington DC – The National Foreign Trade Council hailed today’s Senate passage of Trade Promotion Authority (TPA), and commended the Bush Administration for making its enactment a legislative priority.
“Reauthorizing TPA has been too long in coming. Today’s vote signals a huge victory for American business, farmers, workers and consumers,” said Bill Reinsch, President of the National Foreign Trade Council. “TPA will provide the President with the negotiating authority necessary to boost U.S. exports and help revitalize the U.S. economy through vital trade liberalization negotiations underway in the WTO and regionally.”
Reinsch thanked Senators Baucus and Grassley for their leadership in achieving final Senate action on the TPA conference report prior to the August recess.
Reinsch noted that negotiating favorable trade agreements to reduce tariff and non-tariff barriers is the single most important step the United States can take to boost the sale of American products and services overseas and stimulate worldwide economic growth and prosperity.
“Today’s historic vote will enable our government to advance the WTO Doha Round, the Free Trade Area of the Americas (FTAA) and important bilateral free trade agreement negotiations from a position of leadership and strength, with the full backing of the U.S. Congress,” he continued. “Our trade negotiators will now have all the necessary tools to open markets and strengthen our open, rules-based trading regime. This is a vote in favor of growth and opportunity not only for the United States, but also for all developed and developing countries.”
“Starting today, America’s trade negotiators will have the ability to get the job done with renewed momentum,” Reinsch concluded.