Max Baucus: “I rise today to talk about next steps for our trade agenda after last week's collapse of the World Trade Organization…”

“I rise today to talk about next steps for our trade agenda after last week's collapse of the World Trade Organization Ministerial in Cancun. Certainly, the WTO is not dead. In fact, this kind of setback is fairly common in its history. Sooner or later the negotiators pick up the pieces and get back to work. We must and we will continue to try to get the Doha round negotiations back on track. And eventually, I think we will succeed. But it probably won't happen soon. In the meantime, we need to learn from last week's events and adjust our national trade strategy accordingly. In my view, there are two important lessons to be learned. First, we can't count on a sweeping WTO agreement to be an engine of economic growth for our country any time soon. The President has made the stimulative effect of a strong WTO agreement a centerpiece of his plan for economic recovery and long-term growth. If we want to stimulate the economy through trade--and I certainly support that goal--then we need a new plan. Second, the administration needs to rethink its strategy for picking FTA partners.”