Roberts Introduces Fast-Track

March 22, 2001

Sen. Pat Roberts (R-KS) was to introduce Thursday new legislation to give the President permanent trade promotion authority, formerly known as "fast track." The Permanent Trade Promotion Authority and Market Access Act of 2001 amends the Omnibus Trade and Competitiveness Act of 1988 to extend trade promotion authority indefinitely.

"As the U.S. economy begins to weaken, we must do all that we can to remain competitive in the global marketplace," said Roberts. "Congress cannot afford to sit by while U.S. competitors carve out markets left and right for their products and services. It is imperative that Congress gives the Executive Branch every tool possible to aggressively pursue new trade agreements."

That authority includes the President's trade agreement negotiating authority and congressional fast track approval procedures expedited consideration of an agreement followed by congressional approval or rejection without amendments.

"Since 1994, the White House has not had the authority to negotiate trade agreements with expedited implementation procedures," Roberts said. "The hands of the President and his trade negotiators are effectively tied by Congress' inaction on this issue and it is costing U.S. farmers and businesses.

"The agriculture industry especially needs trade promotion authority. To American farmers, many of whom are already struggling, exports represent about 25 percent of gross farm income. Since fast track expired in 1994, it is not surprising that annual U.S. agricultural exports in 2000 were down $9 billion from a record high of $59.9 billion in 1996."

According to trade studies, there currently are 130 free trade agreements in place around the world, but only two involve the United States. Western European nations have negotiated 909 bilateral investment treaties, but the United States is party to only 43. While other countries have negotiated bilateral treaties with Brazil, the largest country in Latin America; China, the largest country in Asia; and India, with a population of nearly one billion, the United States has failed to sign a single treaty with any of these highly populated countries.

Roberts' legislation is cosponsored by Sen. Phil Gramm (R-TX), chairman of the Finance Committee's International Trade Subcommittee, and Sen. Chuck Hagel (R-NE), chairman of the Foreign Relations Committee's International Economic Policy, Export and Trade Promotion Subcommittee.