Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

U.S. business groups to urge Congress to approve fast-track trade authority

Published 04/20/2015, 07:45 PM
Updated 04/20/2015, 07:51 PM
U.S. business groups to urge Congress to approve fast-track trade authority

WASHINGTON (Reuters) - Almost 300 business groups from across the United States are urging swift passage of a bipartisan bill in Congress that would "fast-track" trade deals, in a letter they plan to send to congressional leaders on Tuesday.

Noting that Washington was negotiating trade deals with Pacific countries and Europe, the letter seen by Reuters, dated April 21, said: "To realize the potential of these agreements for U.S. jobs, economic growth and competitiveness, Congress must pass Trade Promotion Authority."

The National Association of Manufacturers said on Monday the letter it and the U.S. Chamber of Commerce were sending had been signed by nearly 300 state and local associations involved in almost all areas of the economy.

"Our chambers of commerce, manufacturing organizations, and farm bureaus represent millions of companies, workers, farmers, and ranchers from every sector of the economy and every state in the union," said the letter, which will be delivered to congressional offices on Tuesday morning.

Senior U.S. lawmakers reached agreement last week on a bill to give the White House fast-track authority to negotiate a trade pact with 11 other Pacific nations that is central to President Barack Obama's strategic shift toward Asia.

Obama has urged lawmakers to pass the bill quickly.

The bill would give lawmakers the right to set negotiating objectives, but would restrict them to a yes-or-no vote on trade deals.

U.S. labor unions that are supporters of Democratic politicians fear the deal will favor big U.S. corporations at the expense of American jobs and tougher foreign safety and environmental standards.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.