May 24,2001

Grassley on the New Democrats' Trade Principles

The New Democrats are a Senate-House coalition of free-trade oriented Democrats who wantto bridge partisan differences over trade to facilitate the passage of trade promotion authority for thePresident and generally advance U.S. leadership in trade policy. The group is expected to announcetrade principles today. Sen. Chuck Grassley, chairman of the Committee on Finance, made thefollowing comment on the group’s principles.

“I welcome the principles for building a bipartisan consensus for tradepromotion authority advanced by the New Democrat coalition. These principles area constructive contribution to the critically important goal of rebuilding a bipartisanaccord on trade. Democrats as well as Republicans recognize that we have to cometogether to restore America’s leadership in international trade. That leadership haslanguished for too long.

“Without trade promotion authority, our negotiators will lack the credibilitythey need to fight for, and conclude, trade agreements that benefit all Americans.The principles unveiled today put us on track for resolving our differences on trade,and for approving trade promotion authority legislation this year.

“As such, these principles affirm that a bold, market-opening trade policy isnot just a Republican interest, or a Democrat interest, but a fundamental Americaninterest.

“I look forward to building on this initiative, and to working with everysenator this year to pass trade promotion authority that advances America’s vitaltrade objectives.”