Orrin Hatch: “I rise to talk about the recent developments in U.S. trade policy and their implications for the future. Over this past…”

“I rise to talk about the recent developments in U.S. trade policy and their implications for the future. Over this past weekend, officials from the Obama administration, along with 11 other countries, reached what they believed will be the final agreement on the terms of the Trans-Pacific Partnership or TPP. If enacted, the TPP would be the largest trade agreement in history, encompassing approximately and roughly 40 percent of the world economy and setting standards for one of the most dynamic parts of the world, the Asia-Pacific. I will repeat what I have said many times before. I believe a strong TPP agreement is essential for advancing our Nation's economic and strategic interests in the Asia-Pacific region. However, while I have often touted the potential benefits of the TPP, I have also been very clear that I will not support just any TPP agreement. The United States has only one chance to negotiate, consider, and implement the TPP. We have to get it right. Under our system of government, both the executive and legislative branches play essential roles in developing and implementing our trade policy. While the administration has the power to reach agreements with other countries, no such agreement can go into force without Congress's approval. Congress is not just a rubberstamp in this process. We have an obligation to evaluate every trade agreement and determine if it advances our Nation's interests and serves the needs of our constituents.…”