M E M O R A N D U M
To: Reporters and Editors
Re: Trade Promotion Authority
Da: Tuesday, March 19, 2013
Sen. Chuck Grassley of Iowa today made the following comment on a statement from Acting United States Trade Representative Demetrios Marantis at the Finance Committee in favor of soon reinstating Trade Promotion Authority. This is the authority Congress grants to the President to enter into certain reciprocal trade agreements, and to have their implementing bills considered under expedited legislative procedures, provided the President observes certain statutory obligations.
“Trade Promotion Authority signals a commitment from Congress to expanding trade. When Trade Promotion Authority is allowed to lapse, new trade agreements with the United States tend to stall. Unfortunately, Trade Promotion Authority expired in 2007. The Democratic-led Senate and the President haven’t made an effort to extend it. Meanwhile, the United States has fallen behind in negotiating new trade agreements. That’s why it was good to hear the acting United States Trade Representative give the most definitive statement I’ve heard from this Administration on the need to renew Trade Promotion Authority. The Senate majority should heed the call and move to reinstate Trade Promotion Authority as soon as possible. The economy would benefit from the new markets that new trade agreements would create for U.S. farmers and businesses.”