Brady Statement on New ITC Report Regarding Economic Impact of Trade Agreements
WASHINGTON, D.C. – Today, House Ways and Means Chairman Kevin Brady (R-TX) welcomed the International Trade Commission’s (ITC) report “Economic Impact of Trade Agreements Implemented Under Trade Authorities Procedures, 2016 Report“:
“When the United States enters into trade agreements, we have a responsibility to review the operation of these agreements to determine whether they help grow America’s economy and create new jobs for our workers. That’s why we passed legislation in 2015 to require a full and comprehensive report on the effects of trade agreements.
“The good news is that the ITC confirmed that our recent trade agreements have helped America’s economy. I appreciate the ITC’s work and specifically welcome the news that trade agreements increased overall economic growth, employment, and wages in America and decreased the U.S. trade deficit. And the ITC found that middle- and lower–income Americans benefit the most from tariff cuts due to trade agreements because they suffer the most under these taxes.
“As we move forward on additional trade agreements like TPP and T-TIP, we will ensure that the terms of these agreements strengthen our economic freedom and benefit our workers and families.”