Iowa Senator Chuck Grassley says Iowans who farm and those who produce a host of other products that could have a global marketplace should pay close attention to the pending agreement called the Trans-Pacific Partnership. Grassley, a Republican, says the treaty between the U.S. and 11 other nations is very important to a long list of industries, topped by agriculture.
“The agreement would ease tariffs among the partners,” Grassley says. “It’s important for many farms and businesses in Iowa that export their products around the world. The agreement is close to completion but it needs the process of Trade Promotion Authority to be concluded.”
Just before the Memorial Day break, the U.S. Senate passed Trade Promotion Authority, which enables President Obama to proceed with trade negotiations. The measure has yet to win approval in the House though Grassley is optimistic of swift passage when the recess is over. “Trade supports good-paying jobs,” Grassley says. “Iowans work hard and use their brains to create. They deserve new opportunities that come from expanded trade.”
Congress doesn’t have the ability to negotiate deals with other nations, so a number of times since World War Two, Congress has passed Trade Promotion Authority which gives the president the power to broker key trade deals.
“The president is given authority to negotiate,” Grassley says. “Those guidelines are very strict and he just can’t negotiate anything he wants. When it’s all said and done, anything the president signs can’t go into effect until it’s passed by both the House and Senate.”
The Trans-Pacific Partnership is between the U.S. and the following 11 nations: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.