WASHINGTON, DC — House Ways and Means Committee Chairman Paul Ryan (R-WI) released the following statement after President Obama signed into law legislation reauthorizing trade promotion authority (TPA) as well as a bill extending trade preferences programs and trade adjustment assistance. Chairman Ryan was the primary sponsor of the TPA bill in the House.
“America is now back in the game. With TPA in place, the United States can once again play a leading role in writing the rules of the global economy. This will help us create a healthier economy and bolster our foreign policy. It’s a big win, and I want to thank all those who worked so hard to make it possible, especially Representatives Tiberi and Sessions, as well as Senators Hatch and Wyden. I’m also pleased that our trade preferences bill has become law. This will strengthen our ties and promote market-based economics in important, developing nations.
“With TPA in place, our attention shifts to the trade agreements currently being negotiated with our friends in the Asia-Pacific region and Europe. Just as TPA allows greater oversight of the process, it requires the administration to follow Congress’s priorities and achieve high-standard agreements. We have a great opportunity ahead of us, and Congress and the administration both must do their parts to seize it.”