I rise in support of this by conference agreement on trade promotion authority. We have traveled a long and difficult road to arrive at this moment. For 8 years, American leadership and national interests have been sitting on the sidelines. During this time, American companies and workers have stood by while we have watched our competitors from other countries gain advantages through trade agreements from other countries at our expense because the President of our country did not have the authority to negotiate agreements of our own. At last we are bringing a positive trade agenda for the American economy for our consumers, workers, families, farmers. I want to suggest three reasons why trade promotion authority needs to be promoted and supported. First, it is an economic growth incentive. During the decade of the 1990s, trade has accounted for more than a quarter of domestic economic growth. Today more than ever, we need the engine of economic growth if we are going to continue. Second, trade promotion authority is critical to job creation. In manufacturing, one of every five jobs comes from trade. In the services sector, U.S. exported $295 billion in exports, $180 billion more than was imported. This bill will create job opportunities for American workers in all kinds of industries, while at the same time it helps those who might lose their jobs with trade adjustment assistance. Third, trade promotion authority will improve our standard of living.
Editor's note · Context
Discussing the importance of trade promotion authority for economic growth and job creation.
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