CONGRESS PASSES TPA LEGISLATIONJune 25, 2015 | in News
Author: Daniel “Dan” Stohr —
Passage this week of Trade Promotion Authority (TPA) by Congress is a major step forward for U.S. manufacturers. AIA applauds the members of Congress who shepherded the bill through to passage and thanks them for their leadership.
TPA establishes concrete rules for international trade discussions with our economic partners throughout the world. It allows the Executive Branch to negotiate on behalf of the U.S. for strong trade agreements that are in our best interests. It also retains Congress’ constitutional authority to review these agreements and provide an up or down vote, without amendments, for passage. This process encourages our trade partners to put their best offers on the table for potential agreements like the Trans-Pacific Partnership and the Trans-Atlantic Trade and Investment Partnership.
AIA has strongly and consistently advocated for increased U.S. government support for trade and exports. In May, we sent a letter to leadership encouraging passage of TPA. Read the letter here.
As one of the largest economies in the world, the United States benefits considerably from free trade, including the U.S. aerospace and defense industry. Trade agreements provide increased access to overseas markets, and help tear down trade barriers. This creates a level playing field for U.S. exports, which creates U.S. jobs and stronger productivity growth. The U.S. aerospace industry directly benefits from the increased passenger and cargo air traffic, and our defense industry benefits from the closer economic ties with key security cooperation partners and allies.