Trade promotion authority (TPA) will soon help create and strengthen international trade agreements, opening valuable markets and providing an advantage for U.S. farmers. President Barack Obama signed TPA into law on Monday. TPA was a key priority for many farm organizations in the 114th Congress. The bill gives the U.S. Trade Representative (USTR) the ability to get the best deal possible, and it provides Congress the oversight it needs to ensure every agreement will work for American farmers.
The passage of TPA is also vital to moving toward finalizing negotiations on the Trans-Pacific Partnership (TPP) which includes important export markets for U.S. soybeans and meats. AFBF President Bob Stallman said, “The American economy stands stronger when we work together—and that’s just what Trade Promotion Authority enables us to do at the bargaining table. U.S. agriculture is ready for ambitious trade agreements that break down barriers to products grown and made in America, so our trading partners know we mean business.”
While signing the bill into law at the White House on Monday, President Obama said, “I would not be signing these bills if I was not absolutely convinced that these pieces of legislation are ultimately good for American workers. I would not be signing them if I wasn’t convinced they’d be good for American businesses. I would not be signing them if I did not know that they will give us a competitive edge in this new economy, and that that new economy cannot be reversed. We have to embrace it.”