• ITVI.USA
    15,285.540
    -94.080
    -0.6%
  • OTLT.USA
    2.776
    -0.010
    -0.4%
  • OTRI.USA
    21.450
    -0.050
    -0.2%
  • OTVI.USA
    15,256.620
    -93.130
    -0.6%
  • TSTOPVRPM.ATLPHL
    3.300
    -0.240
    -6.8%
  • TSTOPVRPM.CHIATL
    2.950
    -0.020
    -0.7%
  • TSTOPVRPM.DALLAX
    1.440
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    3.310
    0.060
    1.8%
  • TSTOPVRPM.PHLCHI
    2.150
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    3.950
    -0.100
    -2.5%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,285.540
    -94.080
    -0.6%
  • OTLT.USA
    2.776
    -0.010
    -0.4%
  • OTRI.USA
    21.450
    -0.050
    -0.2%
  • OTVI.USA
    15,256.620
    -93.130
    -0.6%
  • TSTOPVRPM.ATLPHL
    3.300
    -0.240
    -6.8%
  • TSTOPVRPM.CHIATL
    2.950
    -0.020
    -0.7%
  • TSTOPVRPM.DALLAX
    1.440
    0.000
    0%
  • TSTOPVRPM.LAXDAL
    3.310
    0.060
    1.8%
  • TSTOPVRPM.PHLCHI
    2.150
    0.020
    0.9%
  • TSTOPVRPM.LAXSEA
    3.950
    -0.100
    -2.5%
  • WAIT.USA
    126.000
    1.000
    0.8%
American Shipper

Former Commerce secretaries to Congress: Approve TPA

A bipartisan group of former Commerce Department secretaries urged Congress to pass Trade Promotion Authority, which expired back in July 2007.

   A bipartisan group of former Commerce Department secretaries urged Congress to pass Trade Promotion Authority, which expired back in July 2007.
   TPA is considered essential to completing and implementing new trade agreements.
   The 10 former commerce secretaries – representing administrations dating back to President Richard Nixon – said TPA for the president will help keep the country competitive in the global market, as well as encourage economic growth and job creation. 
   “American companies grow and succeed in the global market place through high-quality high-standard trade agreements that help our firms gain access to new overseas markets. With 95 percent of the world’s consumers living outside the United States, we must not allow opportunities to pass us by,” the commerce secretaries warned in a letter to Capitol Hill lawmakers.
   They noted two large U.S. trade agreements that are currently being negotiated: Trans Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (T-TIP). “Once completed, the [agreements] will give the United States free trade arrangements with 65 percent of global GDP and give our businesses preferential access to a large base of new potential customers,” they wrote.
   “But before we can finalize those agreements and our businesses can benefit from the new markets, Congress must pass trade promotion legislation,” the former secretaries added. “For the past 40 years, Congress has enacted Trade Promotion Authority (TPA) type laws to set high-standard objectives and priorities for U.S. trade negotiators and establish a process for consulting with Congress and the public. In so doing, Congress has guided both Democratic and Republican administrations in pursuing trade agreements that support U.S. jobs, eliminate barriers to U.S. exports, and set rules to level the playing field for U.S. companies and workers. Enacting TPA now also strengthens the hands of our negotiators to bring back the best possible deal for Congress to consider.”
   U.S. exports reached a record high for the fifth straight year in 2014 at $2.34 trillion, and supported 11.7 million American jobs. 
   The former commerce secretaries who signed the letter are John Bryson (2011-2012), Gary Locke (2009-2011), Carlos Gutierrez (2005-2009), Donald Evans (2001-2005), Norman Mineta (2000-2001), William Daley (1997-2000), Mickey Kantor (1996-1997), Barbara Franklin (1992-1993), Frederick Dent (1973-1975), and Pete Peterson (1972-1973).

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.