WASHINGTON--(BUSINESS WIRE)--The Coalition of Services Industries (CSI) enthusiastically welcomes the introduction of legislation to renew Trade Promotion Authority (TPA). The Administration has embarked upon an ambitious trade agenda that, if executed at a high standard, would provide a significant economic boost for the United States. The Trans-Pacific Partnership (TPP), Transatlantic Trade and Investment Partnership (TTIP), and especially the Trade in Services Agreement (TISA) are all achievable objectives that will foster economic growth for American businesses and well-paying jobs for American workers.
"Prompt passage of TPA will equip U.S. negotiators to shape these and future agreements to ensure American competitiveness and job growth for years to come," said Peter Allgeier, President of CSI.
In TISA, the United States and its partners have the critical opportunity to update the General Agreement on Trade in Services (GATS), the multilateral governing structure for services put in place over twenty years ago. The GATS was implemented before the introduction of the Internet on a wide scale, and subsequent revolutions in information technology and commerce. Services are essential, not just as the leading sector in creating jobs and increasing economic output, but also in providing support for all other areas of the economy, including manufacturing and agriculture. A modern services agreement with a set of rules from the 21st century is a prerequisite for U.S. service providers to meet their potential at home and abroad.
However, without Trade Promotion Authority, the executive branch will struggle to complete these negotiations. Passing TPA will signal to our partners that we are prepared to work for ambitious, modern standards across our entire trade agenda, and will create confidence in our negotiators. Renewing TPA guarantees that existing measures for consultation and oversight by Congress will continue, so that members of Congress can stay actively involved in setting the objectives and monitoring the progress of negotiations.
The Coalition of Services Industries salutes the Administration for the ambition it has shown thus far with regard to trade. We now call on Congress to act promptly to pass Trade Promotion Authority and to work with the Administration to bring these negotiations to successful conclusions.