Issues Center > Index of Issues > International
Trade Promotion Authority
Background
Since 1974, Congress has granted every U.S. president the authority to negotiate free trade agreements (FTAs) for Congressional approval on an up-or-down basis within a specified time frame. The President's trade promotion authority (TPA) lapsed after the 1994 passage of the Uruguay Round legislation that established the World Trade Organization (WTO).
Right now America's competitiveness is at a crossroads as TPA expired on July 1, 2007. Without TPA renewal, the U.S. will be left on the sidelines as other nations negotiate trade deals, meaning U.S. workers, farmers, and companies will be at a competitive disadvantage. President Bush requested the renewal of the TPA.
America must continue to negotiate trade agreements in this streamlined manner in order to open new markets for American goods, services, and agricultural products, and bring lower priced goods and expanded choices to American consumers. Our exports depend on TPA's renewal.
Over the past 20 years, approximately 1/3 of the growth in the U.S. economy came through exports.
- U.S. exports directly support more than 12 million jobs, and these jobs typically pay 13% to 18% more than the average U.S. wage
- 1 in every 3 acres of farmland in the U.S. is planted for export
- 1 in every 5 manufacturing jobs is tied to overseas sales
- U.S. service providers brought in export revenues of more than $400 billion in 2006
- U.S. Free Trade Agreement partners make up 7.3 percent of the world’s GDP (excluding the U.S.), and exports to these countries comprise more than 42 percent of total U.S. exports.
Join our Trade for America coalition today to be listed as a supporter to renew Trade Promotion Authority and to receive communications. Visit http://www.tradeforamerica.org/ to join today.
|
RSS Issue Feed
