On May 4, AmChams in Europe
issued a joint letter to all 535 members of the U.S. Congress in support of the renewal of Trade Promotion Authority (TPA). TPA is vital to the United States, to U.S. global leadership and to AmCham members because without it the United States would have great difficulty concluding new trade agreements.
The United States is negotiating the Transatlantic Trade and Investment Partnership (TTIP) with the European Union and its 28 member states. TTIP will bring hundreds of billions of dollars of benefits both to the United States and to our allies in Europe, allies that share our commitments to open markets as well as strong labor and environmental protections. Failure to pass TPA would put this hugely important agreement in jeopardy.
Renewal of TPA would also open the door to additional trade agreements, including the Trans-Pacific Partnership (TPP) agreement, the Trade in Services Agreement (TiSA), and the WTO Environmental Goods Agreement, which will also generate growth and jobs in the United States and Europe.
To make any of these growth-driving trade agreements a reality, Congress must first approve TPA. Under TPA, Congress sets negotiating objectives, and it requires the executive branch to consult extensively with legislators during negotiations. Every president since Franklin D. Roosevelt has had some type of trade promotion authority; every president should have it.
To view the AmChams in Europe joint letter, click here.