WASHINGTON, June 24, 2015 /PRNewswire/ -- Cargill applauds the passage of the Trade Promotion Authority (TPA) bill in the U.S. Congress. This bipartisan bill gives the executive branch the ability to negotiate trade agreements such as the Trans-Pacific Partnership, which are important for the future of the U.S. economy and for global food security.
The U.S. economy and the world's food supplies rely on international trade. Trade supports one in five U.S. jobs, including nearly 1 million farmers and agricultural workers who produce exports that supply the world with high-quality and affordable food.
"Getting TPA passed is positive not only for the U.S. economy, but for all the world's citizens," said Cargill President and Chief Executive Officer David MacLennan. "President Obama can now move forward with trade deals that will allow food to move more freely across international borders. That's good news for farmers and consumers all over the world."
TPA, also called the trade fast-track bill, gives the administration the authority to negotiate agreements with international trading partners, which are submitted to Congress for an up-or-down vote. Nearly every modern U.S. president has held trade fast-track authority.
Cargill supports TPA because it encourages trading partners to place their best offers on the table, which will result in more favorable agreements for our employees, farmers, manufacturers and businesses.
Passage of the TPA bill allows the U.S. and 11 other Pacific Rim countries to move forward on negotiations over the Trans-Pacific Partnership, a trade agreement that represents 40 percent of the world's economy. The Trans-Pacific Partnership aims to set a precedent for modern international trade, which would also include standards for environmental protection and labor rights. Cargill believes this deal will benefit the world economy, including U.S. businesses who would be able to reach 485 million new customers in Asia.
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and 150 years of experience. We have 152,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and our News Center.