Sullivan Applauds Passage of Trade Promotion Authority

Press Release

Date: May 23, 2015
Location: Washington, DC
Issues: Trade

This evening U.S. Senator Dan Sullivan (R-AK) voted with 61 of his Senate colleagues on final passage of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, also known as Trade Promotion Authority (TPA). The bill will grant the president authority, with congressional oversight, to work on trade agreements with Asian countries and other nations across the globe.

"At a time when the economy desperately needs a boost, these agreements will help move our country forward by unlocking new opportunities for growth and expansion for our workers, from those in the high-tech sector to our ranchers, farmers and fishermen," Senator Sullivan said.

The U.S. Chamber of Commerce estimates that trade boosts the purchasing power of the average American household by $10,000 annually. It's also been estimated that trade agreements that will be negotiated as a result of this Act will create hundreds of thousands of jobs for Americans.

Trade is particularly important to Alaska, which, despite its small population, is an export powerhouse. Alaska is America's number one exporter of fish and seafood products. In 2013, it's estimated that Alaska exported $6.2 billion in goods and services.

It's also estimated that trade supports more than 90,000 jobs in Alaska. That means that more than 1 in 5 of all jobs in the state are trade related.

"With solid trade agreements, Alaska will be able to export even more goods and get a better deal for those goods. And we'll be able to attract increased foreign investment to the state, which will create more high-paying jobs. Such free trade agreements work when negotiated correctly. We will make sure they are," Senator Sullivan said. "They work for the American consumer and for the American worker, and they also work to protect this country. Negotiating these trade agreements will signal to the world that America is again engaged, and will put us back in the driver's seat. We'll make sure that going forward, America, not countries like China, will write the rules for the 21st-Century global economic system."