TPA is essential for the negotiation and passage of trade agreements needed to spur U.S. growth and job creation
UPS® (NYSE:UPS), a global logistics provider and leading advocate for global trade, applauds the introduction of bipartisan, bicameral Trade Promotion Authority (TPA) legislation in the U.S. Senate by Senators Max Baucus and Orrin Hatch and in the House of Representatives by Representative Dave Camp. UPS urges the House and the Senate, in partnership with the Administration, to move forward expeditiously to pass this vital legislation.
"The United States must actively engage in global trade and vigorously pursue new markets; TPA is vital to securing these opportunities," said Scott Davis, UPS chairman and CEO. "Given the extraordinary opportunities before us, including negotiations on a Trans-Pacific Partnership Agreement, Transatlantic Trade & Investment Partnership, and Trade in Services Agreement, prompt passage of TPA will support the drive for economic growth and job creation in the United States and bring great benefits to consumers and businesses, large and small."
Congress and the President share constitutional authority over trade and international agreements. Under ordinary rules, a trade agreement would be subject to amendments that in effect reopen negotiations after they are concluded. In such a scenario, trading partners would have no incentive to make concessions at the bargaining table. TPA is an exercise of Congress's authority to shape trade agreements during their negotiation and to require an up or down vote on the deals once they are reached.