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On the eve of the House beginning to vote Friday on trade legislation, National Association of Manufacturers President and CEO Jay Timmons and David Farr, NAM's Vice Chair of International Economic Affairs Policy and Emerson Chairman and CEO, released a joint statement urging the House to pass legislation authorizing Trade Promotion Authority:
"The House of Representatives now faces a simple decision: vote in support of TPA and expand opportunities for manufacturers to sell our products overseas, increase global competitiveness and fuel our ability to grow and create jobs, or vote to keep manufacturers on the sidelines and at a global disadvantage," the statement said. "A vote for TPA is a vote to support the 12 million men and women working in manufacturing in the United States."
The Business Council of Alabama also has written members of Alabama's Congressional delegation urging support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015.
Trade Promotion Authority is a vital component for American business because economic growth and job creation at home depend on our ability sell American goods and services to 95 percent of the world's customers who live outside the United States.
In Alabama, trade supports more than 500,000 jobs. Exports of goods and services last year reached $23 billion. And trade is especially important for Alabama's small businesses, more than 3,200 of which are exporters.
By creating a level playing field, trade agreements help U.S. companies and the workers they employ compete in overseas markets and support 5 million American jobs. To expand these benefits, the U.S. is negotiating the Trans-Pacific Partnership agreement with 11 other Asia-Pacific nations, including some of the world's fastest growing economies.
The U.S. is also negotiating the Transatlantic Trade and Investment Partnership with the European Union, the largest market for U.S. business. But to make these growth-driving trade agreements a reality, Congress must first approve Trade Promotion Authority (TPA).
The logic of trade is simple. Without TPA, the U.S. cannot negotiate new trade agreements to open foreign markets, spur economic growth, and create American jobs. Without TPA, our standard of living and our standing in the world will suffer.
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