The Bipartisan Congressional Trade Priorities Act of 2014, introduced on 9 January 2014, renews a key component to the United States’ ability to effectively negotiate with its trade partners: Trade Promotion Authority (TPA). TPA guarantees that any trade agreement concluded by the US receives a simple up-or-down vote in Congress, enabling US negotiators attain the best possible agreement. In addition, the legislation contains provisions addressing issues that will ensure future free trade agreements establish high-standards, provide for fair competition, and benefit domestic businesses and consumers alike.
As an advocate for providing US small and medium-sized enterprises (SMEs) opportunities to participate in, and benefit from, international trade, TradeMoves LLC extends its full support of the Bipartisan Congressional Trade Priorities Act.
"With small and medium-sized enterprises accounting for nearly 98 percent of exporting companies in the United States, SME exporters will benefit from bipartisan legislation to re-establish Trade Promotion Authority," said Shawn Marie Jarosz, President of TradeMoves. "The Trade Priorities Act signals important support from Congress to bolster smaller US exporters' participation in global markets and, ultimately, to help create jobs."
Shawn welcomed the specific mention of SME trade interests in the bill. "I am pleased to see the bill ensures ongoing coordination with the small business community in developing trade negotiation priorities to facilitate increased exports from US small business. With the US actively engaged in negotiations with countries in the Trans-Pacific Partnership, Trans-Atlantic Trade and Investment Partnership, and Trade in Services Agreement, plus the expansion of the Information Technology Agreement, and at the World Trade Organization, securing TPA is critical so that SMEs can reap the benefits of trade agreements as soon as possible. We urge Congress to pass this bill without delay."
For more information on the TPA legislation, the Senate Finance Committee has also prepared a two-page summary providing an overview of the Bipartisan Congressional Trade Priorities Act.