020416 Farmland Supports Trade Promotion Authority

Kansas City, MO - Farmland Industries joined President Bush in calling on the U.S. Senate to pass Trade Promotion Authority (TPA).

Farmland President and CEO Bob Honse urged the Senate to approve TPA and asked that members of the agricultural community write their Senators voicing support for TPA.

“TPA is good for American farmers and ranchers,” Honse said. “Last December, the U.S. House of Representatives took a bold step and passed Trade Promotion Authority by one vote. We're now asking the Senate to do the same and approve this important legislation.”

With TPA approval, the Bush Administration would have the authority to negotiate directly with other countries and develop trade agreements, allowing the U.S. to resume its leadership role in international trade. Under the legislation, the Administration is required to consult with key Congressional committees during negotiations. Once an agreement is negotiated, Congress can either vote for or against the agreement.

There are more than 150 preferential trade agreements in the world today, and the U.S. is a party to only three. The European Union is a party to 31 and Mexico is a party to 10.

“The U.S. has fallen dangerously behind other countries in negotiating trade agreements. Passage of TPA would help alleviate this imbalance,” Honse said.

Increased trade helps U.S. workers, farmers and the economy by creating jobs, opening markets to American goods and services, and increasing choices and lowering costs for consumers.

Farmland encourages members of the agricultural community to contact their Senators and urge them to vote in favor of TPA. As the U.S. House vote shows, everyone can make a difference.

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