Washington, D.C. – Today, National Foreign Trade Council (NFTC) President Bill Reinsch applauded members of the House of Representatives for passing legislation renewing Trade Promotion Authority (TPA) and trade preference programs for African nations and Haiti. The NFTC also strongly urged the House to support Trade Adjustment Assistance (TAA) legislation when it returns to the House floor for a vote.
“We thank members of the House for supporting TPA and the trade preference programs, taking a much-needed step in the right direction for the U.S. economy and American businesses, farmers and workers. If it is enacted, TPA will not only ensure that congressional objectives are met as negotiations on agreements such as the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership advance, but it also gives negotiators the authority needed to complete the best deals possible for America.
“However, the House’s action in rejecting the Trade Adjustment Assistance program is a historic mistake its members will come to regret. TAA is one of the few programs we have that helps our workers cope with the transition to a globally integrated economy, a transition that is going to continue regardless of Congress.
“Competing in this more challenging environment means trade agreements that promote market access for our farmers, manufacturers and service providers and create rules that provide for a level playing field, but it also means taking steps at home to make sure our workforce is prepared for the agility a more competitive global environment requires.
“Trade Adjustment Assistance is the best tool we have to do that, and the House’s action today not only steps away from the bargain we struck with labor more than 50 years ago, it abandons the best resource we have – our workers – and leaves them at the mercy of our foreign competitors. It is for these reasons that we strongly urge members of the House on both sides of the aisle to show their support for American workers by passing TAA when it is brought before the chamber again.”
About the NFTC
Serving America’s Global Businesses Since 1914 – 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.