Statement by U.S. Secretary of Commerce Penny Pritzker on U.S. House Vote on Trade Promotion Authority

U.S. Secretary of Commerce Penny Pritzker issued a statement today on the House vote on Trade Promotion Authority:

“Yesterday's bipartisan House vote on Trade Promotion Authority (TPA) is an important first step in helping American businesses and workers better compete in the 21^st century economy. Passage of TPA legislation would allow our country to negotiate modern, high-standard trade agreements in the Asia-Pacific and Europe that reflect our values and ideals, will open up and expand opportunity in new markets, and will ensure fairness for our businesses and workers both here at home and abroad.

U.S. companies and workers need new trade agreements to thrive in the fiercely competitive global economy. Too often, U.S. companies lack equal access to the 96 percent of the world’s customers that live beyond our borders. Addressing these barriers and opening markets are the central forces that drive President Obama’s trade agenda, which will spur economic growth, create jobs, and level the playing field for American businesses and their workers. In today’s global economy, America’s prosperity is directly tied to our ability to reach new markets and new customers. 

U.S. exports support more than 11.7 million jobs and we know that jobs supported by exports pay up to 18 percent more on average. We can build on this success with new, modern trade agreements like the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP). At this critical time the United States cannot stand still, while the rest of the world is moving full speed ahead. 

A majority in both the U.S. House and Senate support the passage of TPA. The vote was significant, but we clearly have more work to do on both sides of the aisle as we look to complete and implement new trade agreements that benefit American businesses and their workers.”