June 29,2007

Baucus Comments on Trade Promotion Authority

Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) commented
today on the expected June 30 expiration of Trade Promotion Authority (TPA), also known as
fast-track negotiating authority, which allows the President to negotiate trade agreements subject
to an up or down vote in Congress. The Finance Committee has jurisdiction over U.S. trade
policy, including any law to renew and improve TPA.

“I have always said that it is more important to get trade promotion authority done right than to get it done fast.

“Fast track renewal must respond to Americans’ real concerns about the potential effects of
trade and globalization. We must strengthen labor and environmental protections and
requirements for Congressional involvement. Fast-track must be a more powerful jobcreating
tool for American workers and businesses.

“There are many pressing trade policy matters before the Finance Committee now, from
pending trade agreements to a much-needed renewal and expansion of Trade Adjustment
Assistance for American workers to initiatives to improve enforcement of our existing trade
agreements and laws. Certainly, the status of the Doha trade talks does not demand
immediate action on fast-track. The Finance Committee will turn to Trade Promotion
Authority at an appropriate time in the future.”

# # #