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June 24, 2015

IPI Commends Congress For Passing Trade Promotion Authority

Giovanetti: 'Unfortunate' Many Republicans Succumbed to Fear, Misinformation

The Institute for Policy Innovation (IPI) commends the U.S. Senate and House of Representatives for finding a way to pass Trade Promotion Authority (TPA), a necessary step toward the successful negotiation of trade agreements such as the Trans Pacific Partnership (TPP) and the Transatlantic Trade & Investment Partnership (TTIP).

“The United States must not turn away from free trade” said IPI President Tom Giovanetti. “Liberalized trade with other nations is good for the U.S. economy and for American workers, and it’s also the most important factor in constructive relationships with other countries.”

The evidence is overwhelming that freer trade leads to more economic efficiency and to greater job creation in areas of each nation’s competitive advantage. But equally important is growing our economic relationships with our Asian trading partners in light of China’s assertive behavior.

“Our best hope of maintaining strategic partnerships with Asian countries and encouraging China to be a constructive member of the world community is by developing strong trade relationships in the Pacific region,” said Giovanetti.

“It’s unfortunate that too many Republicans succumbed to fear and misinformation on TPA,” said Giovanetti. “Granting trade promotion authority simply makes trade agreements possible. It doesn’t lock us into any particular trade agreement. And when a trade agreement is finalized, everyone will have plenty of time to scrutinize the details and determine whether the agreement is in the best interests of the U.S.”

IPI looks forward hopefully to the successful completion of the TPP and TTIP agreements, and encourages all those who care about the U.S. economy and who recognize the value of deepened ties with Pacific nations to resist misinformation and scaremongering about free trade agreements.


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