Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.
Trade Promotion Authority (TPA) is a critical tool for advancing U.S. trade agreements to support U.S. economic growth and jobs.
Since President Franklin D. Roosevelt in the 1930s, every President has had authority from Congress to negotiate trade agreements that open new markets for U.S. companies, farmers and workers and help ensure a rules-based system for two-way trade. Congress last enacted TPA legislation in 2002, and it lapsed in 2007.
Over the last decade, many new challenges to doing business in the global marketplace have emerged. Updating TPA and its negotiating objectives would help to address strategically such issues across the range of current U.S. trade negotiations, as well as in the future.
To educate on the benefits of trade and U.S. trade agreements and advocate for the passage of updated TPA legislation, Business Roundtable and other leading business associations launched the Trade Benefits America Coalition. To learn more about the coalition, visit www.tradebenefitsamerica.org.
For more information about TPA, click here.
Why is TPA Important?
- TPA is legislation that: (1) helps shape the principal goals the United States wants to accomplish in international trade negotiations with other countries; (2) establishes a framework for Congress and the Executive Branch to partner in pursuing trade agreements and enacting bills implementing the agreements into law; and (3) includes a set of legislative procedures that allows the President to submit a bill implementing a trade agreement to Congress for an up-or-down vote within a set period of time, without amendments.
- By passing TPA with updated negotiating objectives, Congress can help strategically address key trade issues across the range of U.S. trade negotiations being pursued – including the Trans-Pacific Partnership, the Transatlantic Trade and Investment Partnership, the Trade in Services Agreement and WTO negotiations on trade facilitation – as well as in future U.S. trade negotiations.
- TPA also helps obtain Congressional approval of any legislation that is needed to implement a completed U.S. trade agreement.