WASHINGTON, Jan. 13, 2014 /PRNewswire-USNewswire/ -- The Association of Global Automakers (Global Automakers) applauds the move by a bipartisan, bicameral group of Congressional lawmakers to introduce trade promotion authority (TPA) legislation.
"TPA is a critical tool that will help the United States achieve comprehensive and high standard outcomes in the ongoing negotiations on the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership trade agreements," said Michael J. Stanton, Global Automakers' president and CEO. "We commend House and Senate members responsible for moving this important bill forward and urge its swift passage."
The bill, introduced by Senator Max Baucus (D-MT), Senator Orrin Hatch (R-UT) and Congressman Dave Camp (R-MI), sets guidelines for negotiating trade agreements and establishes a mechanism for Congressional consideration of such agreements. Global Automakers, which represents 12 international motor vehicle manufacturers, supports the expansion of open trade and investment policies because they improve the competitiveness of the U.S. auto industry and increase consumer choice.
"Open trade and investment policies have encouraged international automakers to invest more than $46 billion into their U.S. operations, creating a stronger domestic manufacturing base and more jobs for Americans," said Stanton.
Today, Global Automakers members manufacture in America over 60 percent of the vehicles they sell in the U.S.,* and export 350,000 U.S.-built vehicles annually to countries around the world. You can learn more about Global Automakers member's national and state-by-state economic impact in the U.S. by visiting our website at: http://www.globalautomakers.org/national-impact
The Association of Global Automakers represents international motor vehicle manufacturers, original equipment suppliers, and other automotive-related trade associations. We work with industry leaders, legislators, and regulators to create the kind of public policy that improves vehicle safety, encourages technological innovation, and protects our planet. Our goal is to foster a competitive environment in which more vehicles are designed and built to enhance Americans' quality of life. For more information, visit www.globalautomakers.org.
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SOURCE The Association of Global Automakers