WASHINGTON, April 16, 2015 /PRNewswire/ -- Cargill supports the introduction of a Trade Promotion Authority bill in the U.S. Congress, which would give the administration power to negotiate international trade agreements and submit them to legislators for an up-or-down vote.
Trade is critical to the U.S. economy and the agricultural sector. One in five U.S. jobs is supported by trade, and trade-related industries are growing faster and paying their employees more than other sectors. Cargill supports fast-track legislation for formal trade agreements because it encourages our trading partners to place their best offers on the table, resulting in more favorable agreements for our employees, farmers, manufacturers and businesses.
"Trade agreements are crucial to making the world more food secure," said Cargill President and Chief Executive David MacLennan. "If we empower the president to sign trade agreements, we can ensure trade is both free and fair by creating international standards that protect workers and the environment. This is an historic opportunity."
Trade Promotion Authority is a key first step toward signing international trade agreements such as the Trans-Pacific Partnership (TPP), a trade framework now being negotiated between the U.S. and 11 countries in Asia and North and South America. Cargill believes TPP would be a huge boon to the U.S. economy by opening up a market of 485 million customers to U.S. businesses.
"TPA is not a new concept that affords extraordinary negotiating powers to the president. Every president since FDR has been given fast-track authority to negotiate trade agreements," said Devry Boughner Vorwerk, director of international business relations for Cargill and co-chair of the U.S Business Coalition for TPP. "Since the last fast-track bill expired in 2007, progress on new free trade agreements has slowed. Congress needs to pass TPA if the U.S. wants to keep its place in the world economy."
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.