Dreier Says, “Our Economy Needs TPA Now”

As Momentum Builds for Thursday’s TPA Vote, Administration and Coalition Members Tout the Benefits of Trade

December 4, 2001

TPA Is About Asserting American leadership Strengthening the American economy Building American jobs The President needs Trade Promotion Authority now. The United States enters into global trade negotiations beginning January, 2002. The negotiations can open markets and provide job creating opportunities for every sector of the American economy. Only with Trade Promotion Authority can the President strike the best deal for American workers, families, farmers and businesses. Trade Promotion Authority is vital to Presidential leadership. For more than fifty years presidential trade authority has been the bedrock of American economic and trade leadership. Trade Promotion Authority represents the vital partnership between Congress and the Executive branch. Presidential negotiating authority lapsed in 1994 and the United States has been falling behind: of 130 free trade agreements in the world, the United States is party to only three.

WASHINGTON, D.C. – Joining Commerce Secretary Don Evans , U.S. Trade Representative Bob Zoellick and Coalition supporters of expanded trade opportunities for the American economy, Congressman David Dreier (R-CA), Chairman of the House Rules Committee, today pointed to the benefits of Trade Promotion Authority (TPA) for American consumers, farmers, workers, and businesses of all sizes. Presidential TPA, formerly known as fast track, is necessary so that the President can negotiate trade agreements and bring them to Congress for a simple up or down vote.

“When America competes, America wins,” Dreier said. “We have the best workers and farmers, the best products, and the best technologies in the world. The President needs TPA now, so that he can get the U.S. back to the negotiating table on trade. Our economy will benefit exponentially when we get our products into new markets overseas. With our economy officially in recession, expanding trade will be key to getting it back on track.”

Last month, the U.S. Department of Commerce announced that the real gross domestic product (GDP) fell1.1 percent in the third quarter of 2001, largely because of a decline in U.S. exports. Dreier noted this decline in exports is not surprising considering that since TPA lapsed in 1994, 130 trade agreements have been negotiated and the U.S. has been a party to only three. Without Presidential TPA, the U.S. will be forced to sit on the sidelines even longer.

“When President Bush outlined his plan for economic recovery, TPA was a cornerstone,” said Dreier. “With TPA in hand, he’ll be able to negotiate the agreements that will expand our economy, create jobs for American workers, and reduce costs for American consumers. Expanded trade is a win -win- win for American workers, farmers, and businesses.”