Unless Trade Promotion Authority (TPA) is renewed, the United States risks losing opportunities to com-plete new trade liberalization agreements and promote economic growth.

Since receiving TPA in 2002, the president has had unprecedented success in furthering U.S. negotiating objectives. Without renewal of TPA, the president’s ability to continue such successful negotiations will be undermined.

• Free trade agreements with Chile and Singapore that languished while the president awaited renewal of TPA have been implemented and promise to open markets for U.S. exports and provide important investment opportunities for U.S. businesses.
• Free trade agreements with Australia, Morocco, Bahrain, Central America and the Dominican Republic were negotiated since Congress granted TPA in 2002. These agreements strengthen ties with important trading partners and allies and promise significant new markets for U.S. goods and services.
• A breakthrough framework agreement for the next round of worldwide trade negotiations also was achieved in 2004. When completed, the Doha Round is expected to bring substantial benefit to U.S. exporters, particularly in the agricultural sector — delays in completing the deal will harm U.S. farmers and businesses.

TPA renewal is vital to continued U.S. leadership in the global trade arena.

• Without TPA renewal, America’s ability to open doors to U.S. goods and services will be diminished, and we will be at risk of losing market share to global competitors. Between 1994 and 2002, when the president did not have TPA, the United States fell dangerously behind the European Union in negotiating free trade and investment agreements, causing U.S. businesses and farmers to lose market share in Latin America, Africa and Asia.
• Many important negotiations are now under way. These negotiations require renewal of TPA to ensure that U.S. negotiators can continue to negotiate more open trade arrangements that benefit U.S. producers and consumers.
  • Negotiations for a Free Trade Area of the Americas (FTAA) would create an unprecedented regional trade agreement encompassing 34 countries in North and South America. These negotiations were seriously undermined by the six-year delay in reauthorizing TPA. The negotiations are now proceeding under the 2002 TPA reauthorization and will require continuation of TPA beyond 2005 to be completed.
  • Renewed TPA is essential to the success of the Doha Round of multilateral trade negotiations. The Doha Round will be particularly important to U.S. farmers because our trading partners have agreed to work to eliminate all agricultural export subsidies, which hinder American farmers’ ability to com-pete in the global market place.
  • Negotiations for a free trade agreement with the nations of South Africa are under way and are likely to continue beyond the 2005 expiration of the cur-rent TPA. Successful completion of this agreement will strengthen American ties to the democratic nations of South Africa and will guarantee market access for U.S. producers in rapidly growing markets in Africa.

America’s continued leadership in the world trading system requires continued TPA for the president.