Start Date: Thursday, June 28, 2007
Last Modified: Tuesday, May 5, 2020
End Date: Friday, December 31, 9999
Tomorrow, June 30, at midnight, the President's Trade Promotion Authority (TPA) will expire. If Congress does not renew that authority, America will lose an important diplomatic tool that has proven essential to bringing foreign leaders to the negotiating table and advancing our nation's broader foreign policy interests. When I meet with foreign leaders, they typically want to talk about ways to strengthen our bilateral economic partnership. These leaders want closer trade ties with the United States, and often we find that in our best interest as well. Because of Trade Promotion Authority, we have strengthened our trade relations with countries critical to our own economy, such as Canada and Mexico, as well as with countries that are key to our wider diplomatic activities around the world, such as Bahrain and Morocco. TPA was also essential to opening new markets in Central America and the Caribbean and to reaching recent accords with Peru, Colombia, Panama and Korea. Rapid Congressional approval of these new accords will reinforce and support free market democracies in Latin America and Asia. Our Free Trade Agreements (FTAs) - none of which would be possible without TPA - promote democracy because they are rooted in the principle that prosperity depends on more than just economic liberalization. Our FTAs include strong provisions to foster transparency and accountability and enhance the rule of law. And just as they open America's vast market to foreign exporters and investors, these agreements also provide vital opportunities in partner countries for American businesses, farmers, ranchers and workers. TPA delivers on foreign policy priorities just as it contributes to our own prosperity. Without Trade Promotion Authority, countries will be less willing to enter into serious trade discussions with the United States. Indeed, the last time TPA lapsed (1995 - 2001), America sat on the sidelines as 190 regional trade agreements were negotiated without us. While global networks of power and influence advanced, our economic interests were stymied. To maintain America's global economic leadership and advance our nation's broader foreign policy goals, I call on Congress to immediately renew Trade Promotion Authority. 2007/529
When I meet with foreign leaders, they typically want to talk about ways to strengthen our bilateral economic partnership. These leaders want closer trade ties with the United States, and often we find that in our best interest as well.
Because of Trade Promotion Authority, we have strengthened our trade relations with countries critical to our own economy, such as Canada and Mexico, as well as with countries that are key to our wider diplomatic activities around the world, such as Bahrain and Morocco. TPA was also essential to opening new markets in Central America and the Caribbean and to reaching recent accords with Peru, Colombia, Panama and Korea. Rapid Congressional approval of these new accords will reinforce and support free market democracies in Latin America and Asia.
Our Free Trade Agreements (FTAs) - none of which would be possible without TPA - promote democracy because they are rooted in the principle that prosperity depends on more than just economic liberalization. Our FTAs include strong provisions to foster transparency and accountability and enhance the rule of law. And just as they open America's vast market to foreign exporters and investors, these agreements also provide vital opportunities in partner countries for American businesses, farmers, ranchers and workers. TPA delivers on foreign policy priorities just as it contributes to our own prosperity.
Without Trade Promotion Authority, countries will be less willing to enter into serious trade discussions with the United States. Indeed, the last time TPA lapsed (1995 - 2001), America sat on the sidelines as 190 regional trade agreements were negotiated without us. While global networks of power and influence advanced, our economic interests were stymied.
To maintain America's global economic leadership and advance our nation's broader foreign policy goals, I call on Congress to immediately renew Trade Promotion Authority.
2007/529
Condoleeza Rice
06/29/07