Bush Formally Requests TPA Extension

March 31, 2005
U.S. President George W. Bush formally asked Congress this week to continue so-called Trade Promotion Authority (TPA), legislation that allows the White House to send trade agreements between the U.S. and other nations to Capitol Hill to be accepted or ...

U.S. President George W. Bush formally asked Congress this week to continue so-called Trade Promotion Authority (TPA), legislation that allows the White House to send trade agreements between the U.S. and other nations to Capitol Hill to be accepted or rejected but not amended. The measure, unless extended, will expire at midyear.

The Bush Administration is asking Congress to extend TPA until July 1, 2007. Rejection by either the House of Representatives or the Senate would result in the loss of TPA on July 1, 2005, and make the negotiation of trade pacts more difficult. Other nations historically have been reluctant to negotiate with the United States when the possibility has existed that Congress would modify otherwise-final agreements.

Failure to renew TPA would directly affect negotiations for the creation of a Free Trade Area of the Americas; for the creation of several other free-trade pacts in Latin America, Asia, and Africa; and for the completion of the Doha Round of international trade talks under the auspices of the World Trade Organization.

Popular Sponsored Recommendations

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

The Realist Guide to Sustainable Supply Chains

Sept. 28, 2023
A ‘roll up your sleeves’ guide to driving green line performance at your organization. Learn with this easy-to-understand ebook how to implement green supply chain management ...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Discrete and Process Manufacturing 2024 Trends and Outlook for North America

Oct. 29, 2023
Manufacturers are reaping the benefits of automation and cloud-based solutions. Discover what is driving today's industry trends and how they can shape your growth priorities ...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!