Bipartisan Congressional Trade Priorities Act Introduced to Renew Trade Promotion Authority
Senate Finance Committee Chairman Max Baucus (D-MT), Ranking Member Orin Hatch (R-UT) and House Ways and Means Committee Chairman Dave Camp (D-MI) introduced yesterday the “Bipartisan Congressional Trade Priorities Act of 2014” to renew trade promotion authority (TPA) and establish strong rules for trade negotiations and congressional approval of trade pacts. Trade promotion authority, which expired in 2007, allows the President to submit trade deals to Congress for a straight up-or-down vote without any amendments.
“The TPA legislation that we are introducing today will make sure that these trade deals get done, and get done right. This is our opportunity to tell the administration — and our trading partners — what Congress’ negotiation priorities are,” Baucus said. “TPA legislation is critical to a successful trade agenda. It is critical to boosting U.S. exports and creating jobs. And, it’s critical to fueling America’s growing economy.”
“U.S. poultry producers and exporters strongly support the administration’s call for bipartisan approval of the Congressional Trade Priorities Act. Prompt passage of this legislation would not only help to facilitate congressional approval of trade agreements, such as the Trans Pacific Partnership and Transatlantic Trade and Investment Partnership when concluded, but equally important it would strengthen the hand of U.S. negotiators to take down trade barriers to U.S. chicken at the international trade bargaining table. Passing TPA would also demonstrate more strongly to the international trade community that the United States is most serious in continuing to be the world leader to building trade, increasing economic activity and providing for more workers to benefit from the hard fought agreements,” said NCC President Mike Brown.
“I welcome the introduction of the Bipartisan Congressional Trade Priorities Act. We expect to have a robust conversation on the Hill about how trade agreements should be negotiated and the role of Congress in that process. We’re eager to engage directly with Members of the Finance and Ways and Means Committees and with all of Congress to pass Trade Promotion Authority legislation that has broad, bipartisan support,” Trade Representative Michael Froman said in a statement.
“We need to open markets, support U.S. jobs, increase exports of products made in America and ensure a level playing field for Americans to compete in the global economy. Trade Promotion Authority will help us accomplish that goal,” Froman said.
Senators Baucus and Hatch and Representative Camp called TPA a “vital tool” as the United States continues Trans-Pacific Partnership (TPP) negotiations as well as free trade agreement talks with the European Union, which will provide U.S. landmark opportunities to boost exports. The TPP countries, which represent many of the fastest-growing economies in the world — accounted for 40 percent of total U.S. goods exported in 2012. In addition, the European Union purchased in 2012 close to $460 billion in U.S. goods and services.
The legislation updates labor and environment provisions to reflect recent trade agreements, as well as market access priorities for goods and services. It strengthens oversight by Congress and the public by adding consultation and reporting requirements and also provides for tougher, enforceable rules against barriers to U.S. agriculture. The bill also sets out, for the first time, a clear directive on currency manipulation.
