Trade liberalization doesn’t just happen — the foundations are laid years in advance. The United States is currently the world’s leading agricultural exporter, and producers are today reaping the benefits of prior rounds of trade liberalization. In recent years the United States has lagged, however, in the negotiation and ratification of trade-expanding treaties, and we are now playing catchup to increasingly aggressive competitors.
Last week, legislation was introduced in Congress providing for enhanced trade promotion authority to allow the executive branch of the U.S. government latitude to negotiate strong, high quality trade agreements while ensuring congressional input and oversight. The bill would strengthen consultations with Congress and the public, increase the executive branch’s accountability to all stakeholders, and tighten implementation requirements to ensure that Congress is fully in control of trade agreements it votes to implement.
The long delays in ratification of the free trade agreements with Colombia, Panama and South Korea, as well as the difficulties surrounding the Bali agreements and the ongoing Transatlantic Trade and Investment Partnership and Trans Pacific Partnership negotiations, clearly show that the U.S. process can and should be streamlined. The bipartisan Congressional Trade Priorities Act of 2014 will help address the realities and challenges of doing business in today’s global marketplace, by strengthening and improving existing law and updating and adding new trade negotiating objectives.
The U.S. Grains Council is committed to the expansion of trade. To continue leading in the international marketplace, the United States must be successful at the negotiating table. This bill will help complete high-standard U.S. trade agreements that open foreign markets for U.S. businesses and workers to sell more American goods and services abroad, where more than 95 percent of consumers are today.