Press Release Summary:
NEMA welcomed introduction of Trade Promotion Authority (TPA), or fast-track, which sets objectives for U.S. bilateral, regional, and plurilateral trade negotiations while also providing for privileged and expedited consideration of future legislation to implement covered trade agreements and achieve those objectives. Congressional approval is critical to ongoing and future negotiations to open foreign markets to U.S. equipment manufacturers and associated service providers.
Original Press Release:
NEMA Welcomes Bipartisan Introduction of Trade Promotion Authority Legislation
ROSSLYN, Va.—National Electrical Manufacturers Association (NEMA) welcomed introduction today by Senate Finance Committee Chairman Max Baucus (D-MT), Ranking Member Orrin Hatch (R-UT), and House Ways and Means Committee Chairman David Camp (R-MI) of legislation to set objectives for U.S. bilateral, regional, and plurilateral trade negotiations as well as provide for privileged and expedited consideration of future legislation to implement covered trade agreements and achieve those objectives. Known as Trade Promotion Authority (TPA), or “fast-track,” the congressional approval of such legislation is critical to ongoing and future negotiations to open foreign markets to U.S. electrical and medical imaging equipment manufacturers and associated service providers.
“The Obama administration is negotiating on our behalf to open major markets in Europe and Asia and I commend Chairmen Baucus and Camp and Ranking Member Hatch for introducing legislation that can make such deals happen,” said NEMA President and CEO Evan R. Gaddis. “We look forward to working with Senators Baucus and Hatch, Representative Camp, and many of their colleagues to move this bill forward to passage as soon as possible,” he added.
The Bipartisan Congressional Trade Priorities Act of 2014 would set objectives for U.S. trade negotiators to meet in potential market-opening agreements with the European Union and the eleven members of the Trans-Pacific Partnership, as well as international talks on opening trade in services and any additional negotiations launched during the next four years. The legislation also puts in place procedures for consultation between the administration and Congress before, during, and after negotiations on any trade agreement are concluded. Based on this close collaboration, legislation submitted by the administration to implement a trade agreement would not be subject to amendment in the House or Senate and must be given an up-or-down vote.
NEMA is a member of the Trade Benefits America coalition, a broad-based business alliance supporting passage of TPA legislation.
NEMA is the association of electrical equipment and medical imaging manufacturers, founded in 1926 and headquartered in Rosslyn, Virginia. Its 400-plus member companies manufacture a diverse set of products including power transmission and distribution equipment, lighting systems, factory automation and control systems, and medical diagnostic imaging systems. Total U.S. shipments for electroindustry products exceed $100 billion annually.
National Electrical Manufacturers Association
Visit our website at www.nema.org