President Barack Obama released his 2014 Trade Policy Agenda yesterday. The 355-page report highlights the World Trade Organization, bilateral and regional negotiations and agreements, trade enforcement activities and trade policy developments.
President Obama's trade strategy for 2014 is driven by a commitment to create jobs, promote growth, and strengthen the middle class through the creation of new export opportunities for American farmers, workers and businesses," said U.S. Trade Representative Michael Froman in a press release issued yesterday.
Both the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) were detailed in the report as well as Trade Promotion Authority (TPA). TPA is an important piece of legislation that must be renewed before the TPP and TTIP agreements are able to conclude. TPA ensures Congressional input on trade negotiations and protects Congress's oversight authority by mandating specific and extensive consultations with the Executive Branch before, during and after trade negotiations. After agreements are negotiated, TPA allows Congress only an up-or-down vote.
"The U.S. dairy industry has the potential to benefit greatly from the TPP and TTIP agreements, and Trade Promotion Authority is an important tool to get those agreements through Congress. We're happy to see its inclusion in the President's 2014 Trade Policy Agenda," said Clay Hough, IDFA senior group vice president.
Read the full agenda here.
For more information, contact Beth Hughes, IDFA director of international affairs, at firstname.lastname@example.org.