Q: What is trade promotion authority?
A: The term refers to an act of Congress that would give the green light to the executive branch of the federal government to negotiate market-opening trade deals with other countries. The U.S. Constitution gives Congress the power to broker matters of international trade. But with 535 members, it is virtually impossible to hammer out an agreement today that would satisfy each and every member down to the last detail. Enacting trade promotion authority retains Congress’s right to accept or reject trade agreements without making changes to the proposal. In June, the White House stepped up its efforts to restore this authority that lapsed back in 1994. While the issue stirs passionate debate in Washington about the pros and cons pertaining to more open commercial borders, environmental standards and labor issues, it seems that matters of international trade draws a big yawn from the general public. That’s too bad. Expanding commercial alliances with the world community of nations offers the United States a ripe opportunity to keep the domestic economy growing, which in turn enhances the chances for fatter paychecks for working men and women. Opening up new markets and tearing down artificial trade barriers with our global trading partners would clear the way for American agriculture, manufacturers and financial and service industries to increase sales abroad and expand their businesses. And jobs linked to international trade pay better than those that are not. Moreover, expanding political, diplomatic and commercial ties with the 142 members of the World Trade Organization would sow the seeds necessary to spread peace and prosperity to nations less fortunate than ours.
Q: Why is it so important for Congress to act this year?
A: Since 1994 when the policy then-known as fast-track trading authority expired, the clock has been ticking on this issue. Critics of this policy, namely the labor, environmental and human rights movements, have orchestrated well-publicized efforts to give global trade a bad name and sink legislative efforts to revive authority for the president to negotiate new trade agreements. While I respect these important points of view, they are missing the big picture. At the turn of the 21st century, the United States stands at a crossroads. Do we want to spring forward and compete for new market opportunities? Or do we fall backward and let our trading partners watch us lag behind from their rear view mirrors? As a strong advocate for free and fair trade in the U.S. Senate, I’m working hard to make sure the U.S. restores its position as a leader in matters of international trade. Without trade promotion authority, we risk taking a backseat while other nations forge ahead with strategic trade pacts that leave our producers, workers, entrepreneurs and small business owners at a competitive disadvantage. The best way for the United States to secure its position at the next round of global trade talks scheduled for November is to grant the president full trade promotion authority. Without the green light from Congress, the United States will be idling indefinitely at a red light while the rest of the world whizzes past us in the fast lane.