ITIF Applauds TPA Enactment, Urges Negotiators to Complete Robust TPP and T-TIP Agreements

WASHINGTON—With Trade Promotion Authority (TPA) and Trade Adjustment Assistance (TAA) now headed to the president’s desk, Stephen Ezell, Director of Global Innovation Policy at the Information Technology and Innovation Foundation (ITIF), released the following statement:

We live in a globalized economy. If we want the United States to be a winner in global economic competition, we need to shape the rules governing international trade to maximize global prosperity while ensuring that America’s innovation-based economy flourishes within that system. With Trade Promotion Authority, America’s negotiators are now able to confidently complete the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (T-TIP) agreements as model, 21^st century compacts, laying a robust foundation upon which a stronger set of global trade rules can be built. And with Trade Adjustment Assistance, we can move forward confidently while adapting to ongoing changes in the economy.

Completing TPA will encourage America’s trading partners to put their best and final offers on the table, moving us much closer toward favorable deals for TPP and T-TIP. Through TPA, Congress has stated its expectations for the commitments it expects America’s trading partners to adhere to if these trade packages are to receive congressional approval. As such, TPA is an effective mechanism for Congress to exercise its constitutional authority to “regulate commerce with foreign nations,” while giving the executive branch’s trade negotiators the ability to come back with the best deals possible.

Our country’s future prosperity depends on whether we can flourish in the 21^st century economy—one driven by integration in the global marketplace, not fear or protectionism. America took a big step forward toward that goal with TPA, and now we urge all negotiators to move ahead to finalize robust agreements for TPP and T-TIP.