Trade

Trade

The United States of America is one of the world's greatest success stories with respect to freedom and prosperity, due in large part to our open markets. Open markets mean wider choices and lower prices for businesses and consumers, as well as more vigorous competition, which serves to encourage greater productivity.

But the case for free trade goes beyond economic efficiency. The freedom to trade is a basic human liberty, and its exercise across political borders unites people in peaceful cooperation and mutual prosperity. That's why I have always supported proposals to expand our trading opportunities and will continue to do so in the future.

To its credit, the 107th Congress approved historic trade expansion legislation, the 2002 Trade Act, and it became Public Law when President Bush signed it on August 6, 2002. The key element of this legislation was its language granting the President the authority to negotiate trade agreements on behalf of the United States (commonly known as "trade promotion authority" or "TPA"), and have the Congress vote to approve these agreements in an up-or-down vote. Opponents of free trade resisted this proposal, as they wanted Congress to have the opportunity to modify such trade agreements. But the President's ability to successfully negotiate vital new trade agreements is contingent upon our trading partners believing that the agreements the President makes won't be subsequently changed in Congress. I supported the President's efforts to enact this legislation, and this legislation's enactment is one of the President's most powerful accomplishments.

At the close of the year 2002, there were more than 130 preferential trade agreements globally, and the United States was a party to only two of them. The European Union had completed 27 free trade agreements and was negotiating an additional 15. Mexico, alone, negotiated new trade agreements with 25 countries. With the newly-granted TPA, the Bush Administration will now be able to work towards negotiating trade agreements that will allow the U.S., and its manufacturers and consumers, to benefit from a multitude of exciting new trading opportunities.

In our State, Georgia's exporters face trade barriers in such sectors as information technology, civil aircraft and parts, paper products, and chemicals. TPA will help the U.S. Trade Representative remove those barriers, which should boost Georgia's economy and provide job security for thousands of Georgians whose work depends on growing exports.

TPA is also good news for Georgia's entrepreneurs and small businesses. The number of Georgia companies exporting increased 79 percent from 1992 to 1998. Also, more than 82 percent of Georgia's 7,335 companies that export are small and medium-sized businesses. With TPA, the number of Georgia companies that export goods could skyrocket.

America must return to our tradition of global leadership for expanded free trade, and not retreat into the mistaken protectionism of the past. We must work to open markets, eliminate tariffs and barriers, and ensure that our nation remains at the forefront of global economic success.

http://linder.house.gov/index.cfm?FuseAction=Issues.Detail&Issue_id=88