U.S. economic growth and job creation depend on our ability sell American goods and services to the 95% of the world’s customers living outside our borders. Yet there are restrictions and tariffs, often in the double digits, that create an uneven playing field for U.S. companies and workers operating in a global marketplace.
By approving Trade Promotion Authority (TPA), also called "fast track," Congress opened up even more overseas markets to U.S. companies, including two major free trade agreements currently under negotiation - TPP and TTIP. TPA requires the President and Congress to work together on trade agreements, enabling the President to negotiate on terms set by Congress.
We Did It!
Read the U.S. Chamber's press release about the final passage of Trade Promotion Authority.
Find Out More
With TPA, the U.S. can negotiate new trade agreements to open foreign markets, spur economic growth, or create American jobs.
Making the Case for Free Trade
The U.S. Chamber’s report, The Open Door of Trade: The Impressive Benefits of America’s Free Trade Agreements, illustrates ways in which free trade agreements (FTAs) boost growth, ensure accountability and fairness, and improve conditions for the creation of good jobs. The report catalogues the success of these agreements and made the case for swift renewal of Trade Promotion Authority (TPA).
Get the Facts
Why does America need TPA?
# 1: Trade Supports Growth and Jobs
- Outside our borders are markets that represent 80% of the world’s purchasing power, 92% of its economic growth, and 95% of its consumers.
- Trade already supports 38 million American jobs.
- One in three manufacturing jobs depends on exports, and one in three acres on American farms is planted for export.
- U.S. services exports top $600 billion, leading the world rankings.
# 2: Trade is Vital to Small Business
- More than 97% of the 300,000 U.S. companies that export their products are small and medium-sized companies.
- Small firms account for more than one-third of all U.S. merchandise exports.
Read more facts about TPA.