Business Roundtable Urges Swift Approval of
Schwab as USTR

Prompt Confirmation Critical to WTO Trade Negotiations

Washington, DC - Business Roundtable today endorsed the swift confirmation of Ambassador Susan Schwab as United States Trade Representative (USTR). Business Roundtable, an association of chief executive officers of leading U.S. companies, recognizes both the importance of the U.S. trade agenda to continued economic growth and the importance of strong leadership at USTR to drive that agenda.

In a letter delivered to all Members of the U.S. Senate, Business Roundtable lauded Schwab's credentials stating, "Ambassador Schwab is an accomplished trade negotiator and will prove to be an excellent successor to Ambassador Robert Portman. She has all the skills that the U.S. needs at this critical time and it is imperative her nomination is acted on without delay."

Signed by Harold McGraw III, Chairman, President & CEO, The McGraw-Hill Companies, and Chairman of Business Roundtable's International Trade and Investment Task Force, the letter highlighted the importance of Schwab's prompt confirmation during a pivotal time - particularly as the Doha negotiations at the World Trade Organization reach a crisis point.

"Based on her exceptional qualifications, track record, and commitment, Ambassador Schwab is well suited to continue the important ongoing work at USTR and lead U.S. trade policy to tackle longer-term challenges. We believe Ambassador Schwab is right person for the job and we urge you to support her confirmation," the letter concluded.

A copy of the letter is available by clicking here.

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Business Roundtable (www.businessroundtable.org) is an association of chief executive officers of leading U.S. companies with over $4.5 trillion in annual revenues and more than 10 million employees. Member companies comprise nearly a third of the total value of the U.S. stock market and represent nearly a third of all corporate income taxes paid to the federal government. Collectively, they returned more than $110 billion in dividends to shareholders and the economy in 2005.

Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with $86 billion in annual research and development spending - nearly half of the total private R&D spending in the U.S.

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