The California economy received a potential shot in the arm on Friday, when the U.S. Senate voted to give President Obama greater authority in negotiating trade agreements with other nations. On a 62-37 vote, the Senate sent the trade promotion authority bill to the U.S. House of Representatives, where it is expected to be hard-fought as well.
Trade Promotion Authority is essential to completing negotiations with 11 other nations on a major trade agreement called the Trans-Pacific Partnership. The 12 nations in the partnership represent 40 percent of world trade and include: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and the United States.
This bill giving President Obama the authority to negotiate trade agreements with other nations is key to expanding economic opportunity for American workers, farmers, ranchers, and businesses. The Trans-Pacific Partnership is a 21st century trade agreement that will boost U.S. economic growth, support American jobs, and grow Made-in-America exports to some of the most dynamic and fastest growing countries in the world.
Four West Coast Senators sided with President Obama and hundreds of business organizations in supporting the bill. They were Senator Dianne Feinstein (D-CA), Senator Ron Wyden (D-OR),Senator Patty Murray (D-WA) and Senator Maria Cantwell (D-WA). These senators deserve our applause and appreciation for their vote to help American companies, farmers and workers export more products and services to the growing number of middle class consumers who live outside the U.S.
America cannot retain its global economic leadership if we fail to engage in trade agreements with the rest of the world. If the U.S. is not at the negotiating table, other countries will write the rules for global trade, and we will be the losers. Please join me in thanking these four senators for their courage and understanding of the importance of international trade to the workers and businesses of America.
And that's The Business Perspective
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