October 22,2009

Press Contact:

Dan Virkstis (Baucus), (202) 224-4515
Jill Gerber (Grassley), (202) 224-4515

Baucus, Grassley Urge President to Conclude Key Asia-Pacific Trade Negotiations

Finance Chairman and Ranking Member Stress Economic and Regional Importance of Trans-Pacific Partnership

Washington, DC Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ranking Member Chuck Grassley (R-Iowa) today sent a letter to the President urging him to successfully conclude free trade agreement negotiations on the Trans-Pacific Strategic Economic Partnership (TPP). In the letter, Baucus and Grassley highlight the need for the United States to promote export-oriented growth, particularly to the Asia-Pacific region. The Senators also note the commercial significance of the TPP, emphasizing the importance of Asia-Pacific markets for American farmers, ranchers, manufacturers and service providers.

“This partnership is a win for American exporters, and a win for American trade policy,” said Baucus. “As we recover from this Great Recession, the partnership has the potential to further open new and emerging Asia-Pacific markets to U.S. exports. And it will allow us to build a high-level trade framework in this vital region. I urge the President to negotiate a TPP that works for American farmers, ranchers, service providers and manufacturers.”

"This trade agreement would open new markets for American exporters in an important part of the world,” Grassley said. “That’s more important than ever as we try to get out of the recession. Trade needs to be part of the economic recovery effort, and finalizing this agreement would send a message to the world that U.S. trade policy is back in business.”

The TPP negotiations, which the United States initially joined in 2008, include Vietnam, Singapore, Australia, Peru, Chile, New Zealand, and Brunei.