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Paulsen Applauds Step Forward in Vital Trade Talks

 

Paulsen Applauds Step Forward in Vital Trade Talks 

House and Senate Introduce Bipartisan Agreements on Trade Promotion Authority

Washington, D.C. – Congressman Erik Paulsen (MN-03) issued the following statement after the House and Senate introduced bipartisan agreements on Trade Promotion Authority. Trade Promotion Authority, also known as TPA or “fast track” trade legislation, ensures the Obama Administration pursues Congress’ objectives when negotiating trade agreements. The bill introduced today strengthens oversight, updates labor and environment provisions to reflect recent trade agreements, and provides for tougher, enforceable rules against barriers to U.S. agriculture. The TPA agreement also sets out an important and clear directive on currency manipulation. Nearly 81,000 Minnesota jobs are directly reliant on exports.

“A new TPA agreement is critical to advancing America’s leadership in the global marketplace,” said Congressman Paulsen. “The world has changed in many significant ways since TPA was last updated more than a decade ago. The new TPA legislation will allow Congress to develop a strategic framework for trade negotiations that must now deal with 21st century issues such as addressing unfair competition from state-owned enterprises and protecting intellectual property rights.”

The Bipartisan Congressional Trade Priorities Act confronts many of the trade challenges facing the U.S. in the global marketplace, including: competition from state-owned enterprises; localization barriers to trade; and restrictions on cross-border data flows. Specifically, The Bipartisan Congressional Trade Priorities Act:

  • Directs the Administration to pursue Congressional prerogatives through Congressionally-mandated negotiating objectives;

  • Establishes robust consultation and access to information requirements before, during, and after negotiations that ensure an open and transparent process for Members and the public; and

  • Preserves Congressional prerogatives and gives Congress the final say in approving trade agreements negotiated by the Administration.

Today’s legislation also takes us one step closer toward the completion of the Trans-Pacific Partnership (TPP) as well as a free trade agreement with the European Union (EU). The two trade deals offer the U.S. and Minnesota landmark opportunities to boost exports abroad. The TPP agreement seeks to support the creation of high-quality American jobs by increasing exports to an economically robust region which represents more than 40% of global trade. And last year alone, Minnesota exported $4 billion to the EU, a staggering 20 percent of the state’s total exports.

Rep. Paulsen has led the effort in the House of Representatives for a comprehensive trade agreement between the U.S. and EU, leading a letter to the President in 2012 and taking part in bipartisan talks between Ways and Means members and their European Union counterparts.

Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation, serves on the House Ways and Means Committee, the bicameral Joint Economic Committee, and is co-chair of the Congressional Medical Technology Caucus.

For more information on Rep. Paulsen’s work in Congress and to view previous editions of Erik’s Correspondence Corner visit www.paulsen.house.gov.

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