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A critical legislative item for the Charleston Metro Chamber this year is the long-term reauthorization of the Trade Promotion Authority (TPA) “fast-track” legislation. Last week, the U.S. House of Representatives, in a procedural vote, approved the TPA legislation, however, the bills companion legislation, the Trade Adjustment Assistance bill, failed when House Democrats rebelled against the bill. Both bills, previously approved by the Senate, must be agreed upon under the current House rules to pass. This week, House leadership will once again try for approval of this critical trade legislation. 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 has the opportunity to open up more markets to our companies. The bill is referred to as "fast-track" as it would 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 will continue to push our leaders in Washington to work together on this critical trade legislation.
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Trade Promotion Authority Legislation Up for Approval