Senate Finance Committee Ranking Member Orrin Hatch (R-Utah) issued the following statement after the Obama Administration announced the United States and European Union (EU) will formally launch negotiations on a Transatlantic Trade and Investment Partnership (TTIP) agreement:
"With the American people still reeling from the recent recession, a strong and aggressive trade agenda would provide a real opportunity for our job creators, our farmers and our workers. Today's formal launch of the U.S.-E.U. trade negotiations is a strong step forward. A comprehensive trade agreement with our European allies could stimulate economic growth on both sides of the Atlantic while creating tremendous new export opportunities for U.S. workers. While I am pleased the President is formally launching negotiations today, it ultimately won't matter unless these negotiations can be concluded and enacted into law. That is why it is imperative that the President show some real leadership on trade and begin working with Congress in earnest to renew Trade Promotion Authority (TPA). Without TPA, it is very hard to see how we can negotiate a strong trade agreement with Europe, and with the Pacific Rim nations through the Trans-Pacific Partnership."