Sectors representing 96% of the total U.S. exports realized the only way to keep world trade and bilateral trade talks alive is through extending Trade Promotion Authority.
The American Farm Bureau Federation, National Association of Manufacturers and Coalition of Service Industries announced collectively they will work together to ensure continued U.S. leadership in the on-going Doha Round of World Trade Organization negotiations and opening foreign markets through bilateral free trade agreements.
TPA expires July 1, 2007. Trade promotion authority prevents Congress from changing negotiated terms of an agreement and is recognized around the world as crucial for keeping negotiated terms intact.
NAM President John Engler says, "We can't afford to let big opportunities like the Doha Round and bilateral FTAs with Korea and Malaysia, just to name a few, slip away because the window of opportunity closed."
AFBF President Bob Stallman recognizes TPA is critical if the United States wants other countries to engage in serious negotiations with the United States. "U.S. agriculture relies on overseas markets and gaining access to those markets is vital to the overall success of farmers and ranchers," he says. "Agriculture's ability to compete in global markets, on fair terms, with better access to expanding markets is dependent on TPA."
CSI's Chairman Norman Sorensen says he recognizes the job creation opportunities that exist within the service sector with a successful Doha round. "It could not be more clear that a successful Round is good for US companies, jobs and exports," he says. "It is equally clear that TPA extension is needed if we are to reap these benefits."