Global Commerce

Congress Approves Trade Promotion Authority (TPA) “fast-track” Legislation

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WRITTEN BY lclark 3 years ago

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Great news! Last week, Congress approved a critical legislative item for the Charleston Metro Chamber, the long-term reauthorization of the Trade Promotion Authority (TPA) “fast-track” legislation. On Wednesday, the U.S. Senate by a vote of 60 to 30 approved the legislation, renewing the TPA for six years. The bill's companion legislation, the Trade Adjustment Assistance bill, passed on Thursday. Now the legislation goes to the President’s desk for his signature. Both bills survived attempts early this month by House Democrats to slow down potential approval of the bills. The business community in the Charleston region sees TPA as a critical step in renewing America’s leadership on trade and securing new trade agreements that create more opportunities for our business and their workers. Regionally and nationally, economic growth and job creation depend on the ability to sell American goods and services outside our borders. By approving TPA, Congress took the opportunity to open up more markets to our companies. The bill is referred to as “fast-track” as it will speed up and boost the likelihood of the U.S. approving free trade agreements. The Chamber’s World Trade Center Charleston is focused on implementing a regional export strategy that includes training local companies how to export their products and services. Passage of TPA is an important link to the success of our efforts. The Charleston Metro Chamber of Commerce would like to thank Senators Lindsey Graham, Tim Scott and Congressman Mark Sanford for their unwavering leadership on this critical issue.
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