Senate Finance Committee Chairman Orrin Hatch (R-Utah) today issued the following statement after the United States Trade Representative (USTR) Michael Froman announced that an agreement had been reached between the United States and 11 other nations to close the Trans-Pacific Partnership (TPP) negotiations:
“A robust and balanced Trans-Pacific Partnership agreement holds the potential to enhance our economy by unlocking foreign markets for American exports and producing higher-paying jobs here at home. But a poor deal risks losing a historic opportunity to break down trade barriers for American-made products with a trade block representing 40 percent of the global economy. Closing a deal is an achievement for our nation only if it works for the American people and can pass Congress by meeting the high-standard objectives laid out in bipartisan Trade Promotion Authority. While the details are still emerging, unfortunately I am afraid this deal appears to fall woefully short. Over the next several days and months, I will carefully examine the agreement to determine whether our trade negotiators have diligently followed the law so that this trade agreement meets Congress’s criteria and increases opportunity for American businesses and workers. The Trans-Pacific Partnership is a once in a lifetime opportunity and the United States should not settle for a mediocre deal that fails to set high-standard trade rules in the Asia-Pacific region for years to come.”
A longtime advocate of breaking down trade barriers, Hatch has championed efforts to enhance America’s global competitiveness and increase access for American farmers, workers and job-creators into international markets. Most recently, Hatch co-authored legislation to renew Trade Promotion Authority (TPA) which was signed into law in June.