Business Launches Trade-Promotion Initiative

ByJohn S. McClenahen A broad coalition of business groups, dubbed USTrade, is now working Capitol Hill to get Congressional approval for what the Bush Administration calls trade-promotion authority (TPA). It would allow Congress to accept or reject -- but not amend -- trade pacts the Administration negotiates with other nations. TPA, once known as fast-track authority, is considered a pre-requisite to serious bargaining on the proposed free-trade area for the Americas and for a new set of global trade rules. Indeed, without TPA, "we will get no agreements," states William Pryce, vice president of the Council of the Americas, Washington. The National Assn. of Manufacturers, also based in Washington, will served as the secretariat for USTrade coalition.