WASHINGTON, D.C. U.S. Chamber of Commerce President and CEO Thomas J. Donohue issued the following statement applauding the introduction today of the Bipartisan Congressional Trade Priorities Act, which will renew Trade Promotion Authority (TPA):
“TPA is a vital tool to help Americans sell their goods and services to the 95% of the world’s customers living outside our borders. The Chamber congratulates Senate Finance Committee Chairman Max Baucus, Ranking Member Orrin Hatch, and House Ways and Means Committee Chairman Dave Camp, whose bill promises to spur economic growth and job creation at home.
“In today's tough international markets, we need our trade negotiators to tear down the foreign tariffs and other barriers that too often shut out U.S products. However, to secure new growth-creating trade pacts such as the trans-Pacific and trans-Atlantic agreements now under negotiation, Congress must first approve TPA.
“While the Constitution gives the president authority to negotiate with foreign governments, it gives Congress authority to regulate international trade. TPA squares this circle: It directs Congress to set negotiating objectives and requires the executive branch to consult extensively with Congress during negotiations. The result should be a true partnership stretching the length of Pennsylvania Avenue.“TPA is the Chamber's top trade priority before the Congress. We look forward to working with Democrats and Republicans on Capitol Hill as well as the administration to secure TPA's renewal as soon as possible.”