TPA UPDATE, MAY 22, 2015 »
National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement after the Senate approved bipartisan Trade Promotion Authority (TPA) legislation:
“Today’s Senate vote was an important step forward, and now manufacturers call on the House to immediately pass TPA so we can restore U.S. leadership on trade around the globe. We need to put America back at the negotiating table. This has gone on for far too long, and Congress has kept manufacturers on the sidelines of market-opening and job-creating trade agreements that we desperately need to be competitive in a global economy.”
Manufacturers in the United States need Trade Promotion Authority (TPA) to open new overseas markets, level the playing field and secure better access to the 95 percent of the world's consumers who live outside our borders.
TPA is a partnership between Congress and the President that facilitates development and approval of trade agreements. It ensures congressional input on trade negotiations and increases Congress' power to shape and influence deals. Every president since Franklin Roosevelt has had trade negotiating authority.
Trade agreements negotiated under TPA are delivering for manufacturers and workers. The United States enjoys a $55 billion manufacturing trade surplus with its 20 existing trade agreement partners. Those countries purchase nearly half of all U.S. manufactured goods exports.
TPA is essential to promote jobs and economic growth. The NAM is calling on Congress and the Administration to quickly introduce and pass bipartisan Trade Promotion Authority legislation, which was last renewed in 2002 and expired in 2007.