Aaron Fobes, Julia Lawless (202)224-4515
What TPA Means for TPP
Bipartisan Trade Promotion Authority Sets High Objectives and Transparency Measures for the Trans-Pacific Partnership
After five years of negotiations, the United States Trade Representative (USTR) today announced a deal has been reached on the Trans-Pacific Partnership (TPP), a trade pact between the United States and 11 other nations in the Asia-Pacific region that represents 40 percent of the global economy. The agreement, if approved by Congress, would be the largest trade agreement in history.
Today’s announcement has consequential implications on American workers and businesses.
A balanced TPP has the potential to enhance our economy by unlocking foreign markets for American products and producing higher-paying jobs here at home. But a bad TPP risks losing a historic opportunity to break down trade barriers for American exports.
Fortunately, Congress has a bipartisan tool to examine and scrutinize the Administration’s trade deal – bipartisan Trade Promotion Authority (TPA).
What does TPA mean for TPP?
TPP Must Meet High Standard Trade Objectives:
Under TPA, the Administration must demonstrate that TPP meets over 150 congressionally-mandated trade objectives.
Transparency for Congress and the Public:
While the details of TPP are not yet public, with TPA, the public will have at least 60 days to review the pact in its entirety before the President signs it and sends it to Congress for consideration.
Congress has the Final Say on TPP:
TPA ensures TPP cannot go into force without final congressional approval. With TPA, Congress’ rigorous oversight of trade agreements is reaffirmed by allowing lawmakers to see that the needs of their constituents are met in any trade deal.
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