Trade Promotion Authority

Floor Speech

BREAK IN TRANSCRIPT

Mr. THUNE. Mr. President, before I close, I would like to take a moment to talk about what I think is a bright spot for our economy, and that is bipartisan trade promotion authority. Previous free- and fair-trade agreements have been a boon to the economy, expanding opportunities for American workers and giving American farmers, such as many of those I represent in South Dakota, and manufacturers access to new markets for their goods. Nearly every one of those trade agreements was negotiated and enacted using trade promotion authority.

The idea behind trade promotion authority is very simple: Congress sets negotiating priorities for the administration and requires the administration to consult with Congress during that negotiating process. In return, Congress promises a simple up-or-down vote on the legislation instead of a lengthy amendment process that could leave the final agreement looking nothing like what was negotiated. That up-or-down vote is the key. That is what gives our trading partners the confidence to put their best offers on the table, which allows for a successful conclusion of negotiations.

Trade promotion authority expired in 2007. Republicans have been trying to get it reauthorized ever since. Currently, the administration is negotiating two key trade agreements--the Trans-Pacific Partnership and the United States-European Union trade agreement--that are unlikely to be concluded in the near future unless trade promotion authority is finally renewed. These agreements will expand opportunities for American workers and open new markets for American goods. A bipartisan reauthorization of trade promotion authority will help bring those agreements to a speedy conclusion, and that will be good news for American workers and American businesses.

The challenges facing our Nation are best solved when Members of both parties come together to find solutions for the American people. I look forward to continuing to work with my colleagues on trade promotion authority and other issues that will grow our economy, create better paying jobs for American workers, and increase the take-home pay of middle-income families in this country.

Mr. President, I yield the floor.

BREAK IN TRANSCRIPT

Source