WASHINGTON – U.S. Trade Representative Susan C. Schwab made the following statement after President George W. Bush called for the renewal of Trade Promotion Authority (TPA) in a speech addressing the state of the U.S. economy:
"Today the President made a bold statement on the benefits of trade for Americans and called for a renewal of Trade Promotion Authority. I am also encouraged by recent statements from Congressional leaders of both parties about the importance of TPA. I look forward to working with them on opening markets overseas, addressing the concerns of the American people, and strengthening bipartisan support for the U.S. trade agenda.
"TPA has led to market-opening trade agreements over the last five years that have benefited America’s farmers, manufacturers, service providers, workers and consumers. The agreements enacted under TPA have helped us dramatically increase exports, which are likely to be an engine that drives the American economy to continued strong growth this year. U.S. exports to the 10 countries with which we implemented free trade agreements between 2001 and 2006 grew twice as fast as U.S. exports to the rest of world.
"TPA has enabled the United States to maintain its leadership role in global trade. The free trade agreements we have negotiated have not only created new economic opportunities by leveling the playing field and removing trade barriers. They have also strengthened the rule of law in commerce.
"An extension of TPA will be needed to successfully complete the Doha Development Round, which is crucial to economic growth at home, opening markets abroad, and alleviating poverty around the world."