Retailers: Renew Trade Promotion Authority

NRF “Key Votes” Legislation Crucial to International Trade Agreements

WASHINGTON--()--International trade benefits American businesses, consumers and families, the National Retail Federation said today in a letter to Congress expressing support for the Bipartisan Congressional Trade Priorities and Accountability Act, which would renew Trade Promotion Authority. The “key vote” letter said that NRF will consider all votes on the issue, including procedural motions, in its annual voting scorecard. The Senate is expected to begin debate on the trade bill this week.

“For the retail industry, trade agreements help lower costs for American families and businesses alike and open new investment opportunities for retailers at home and abroad,” National Retail Federation Senior Vice President for Government Relations David French said in the letter. “Family friendly trade agreements have the potential to reduce or eliminate high taxes now applied to U.S. imports of many basic consumer goods like food, clothing and shoes.”

NRF strongly supports free and open trade, including pending trade agreements such as the Trans-Pacific Partnership with countries along the Pacific Rim and the Transatlantic Trade and Investment Partnership with the European Union. Earlier this month, NRF released a new report, “Trade Matters to American Retailers and Families,” showing that trade supports nearly seven million retail jobs and that tariffs – hidden taxes on imported goods – costs U.S. consumers $6 billion.

“The retail industry firmly believes that promoting trade will improve the lives of American families and workers by supporting American job growth and providing American companies with access to important overseas markets,” French said. “Congress needs to act now to pass TPA and ensure that the United States continues to set the ground rules for global trade.”

Along with supporting passage of TPA, TPP and TTIP, NRF has also called on Congress to extend the African Growth and Opportunity Act as well as the retroactive renewal of the Generalized System of Preferences.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. www.nrf.com

PERMALINK

Contacts

National Retail Federation
Stephen E. Schatz, 855-NRF-PRESS
PRESS@NRF.com

Release Summary

The National Retail Federation sent a letter today to Congress expressing support for the Bipartisan Congressional Trade Priorities and Accountability Act, which would renew Trade Promotion Authority.

Contacts

National Retail Federation
Stephen E. Schatz, 855-NRF-PRESS
PRESS@NRF.com