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May 18, 2006
TO MEMBERS OF THE UNITED STATES SENATE:
Business Roundtable urges the Senate to move swiftly and
confirm Ambassador Susan Schwab as the United States Trade
Representative.
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. It is imperative that her nomination is acted
on without delay.
As chief executives of leading U.S. companies, we know first-hand
how important trade and investment are to U.S. economic growth.
Business Roundtable is committed to working with you, the
Administration, and international partners on initiatives
to sustain and expand economic growth opportunities through
trade and investment.
U.S. international economic policy is in a critical period.
- The United States has the opportunity to lower substantially
global barriers to U.S. manufactured goods, agricultural
products, and services through the Doha negotiations at
the World Trade Organization (WTO). The window of time
for these important negotiations is closing.
- The United States currently is negotiating a Free Trade
Agreement with Korea, which would be the most economically
significant trade agreement since the North American Free
Trade Agreement. An agreement with Korea offers the possibility
of opening one of the most important and challenging markets
for U.S. exporters, while helping to reaffirm U.S. leadership
in Asia.
- The Administration has, in principle, completed negotiations
with Vietnam and is still engaged in important negotiations
with Russia on their joining the WTO on fair commercial
terms, and will need to work closely with the Congress
on the potential grant of permanent normal trade relations
to those countries.
- The United States faces substantial challenges and opportunities
from the rapid emergence of China as a global economic
power. We need a USTR who can achieve balance in our relationship
with China, hold China to its WTO and bilateral commitments,
and remain faithful to core U.S. trade and investment
principles.
- The Administration is mid-stream in other important
bilateral and regional trade negotiations and has concluded
agreements that will expand export markets, once the new
USTR can work with Congress on implementing packages.
Negotiations with Peru and Oman have been completed, and
negotiations are at various stages with Colombia, Ecuador,
Korea, Malaysia, Panama, South African Customs Union,
Thailand, and the United Arab Emirates.
This is a full and important agenda that cannot be accomplished
without strong leadership at USTR.
The United States Trade Representative also will need to
grapple with longerterm challenges and help chart a path for
trade and investment policy in the twenty-first century. The
USTR will need to devise new and creative ways to advance
international economic liberalization when traditional global
negotiations are not viable; integrate China and other emerging
economic powers into the international economic system; and
maintain domestic support for U.S. economic openness and engagement
with the world.
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 the right person for the
job and we urge you to support her confirmation.
Sincerely,
Harold McGraw III
Chairman, President and CEO, The McGraw-Hill Companies
Chairman, Business Roundtable’s International Trade & Investment
Task Force
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