U.S. CHAMBER: TRADE PROMOTION AUTHORITY VITAL TO ôFRAGILE ECONOMYö
The U.S. Chamber of Commerce said it will continue to build support for a trade bill that would grant more trading power to President Bush through trade promotion authority.
Bush’s foreign trade negotiation power came closer to reality last week, after a deal was struck last week in the Senate on health care and other benefits for'workers who have lost their jobs from foreign competition.
Late last week, U.S. Chamber president and chief executive officer Tom Donohue issued a statement supporting trade promotion authority. “Although we would prefer this legislation to be a clean trade bill, we are pleased that we’re one step closer to giving the U.S. the tools it needs to compete in the global marketplace,” Donohue said.
Lawmakers are confident that the trade package could pass the Senate as early as this week. Bush has wanted trade promotion authority to negotiate new trade agreements to open foreign markets to American goods. He also wants to expand the area of the North American Free Trade Agreement by adding more countries to the pact.
The U.S. Chamber of Commerce represents more than 3 million businesses and organizations.
U.S. CHAMBER: TRADE PROMOTION AUTHORITY VITAL TO ?FRAGILE ECONOMY?
