"With TPA, Everybody Wins"

Congressional Support for Trade Promotion Authority Essential to U.S. Technology Leadership & Global Economic Prosperity says Commerce Under Secretary Bond

Washington, DC - Under Secretary for Technology Phillip J. Bond today called upon all members of Congress to protect America's global competitiveness in the Information Age by supporting enactment of Trade Promotion Authority.

"No single issue is more important to the health of our high-tech sector than free and fair access to global markets," said Under Secretary Bond. "Trade Promotion Authority is the key to sustained American high-tech leadership, and Congress has the opportunity to send an important signal to technology markets."

"America's high tech sector is largely responsible for the nation's economic prosperity—driving economic growth, job creation and a rising standard of living." Among the key statistics cited by Bond:

• America's high-tech sector accounts for 29% of U.S. merchandise exports.
  
• Exports are critical for our IT sector, accounting for half of total product revenues.
  
• The high-tech sector has accounted for 30% of real GDP growth in the U.S. since 1995.
  
• Trade and technology produce and support high-wage jobs.

  "And let me be clear on an important point: Trade Promotion Authority is not a partisan issue. Forward-looking New Democrats, such as U.S. Rep. Cal Dooley of California and U.S. Rep. Jim Moran of Virginia, support TPA because they understand the important linkage between our global security, national prosperity, the U.S. high tech sector and trade liberalization," said Bond.

  "The absence of TPA hurts the U.S. tech sector while benefiting foreign competition," offered Bond. "If Congress fails to support TPA, it will undermine the ability of America's technology sector to provide the jobs of the future."

  "In addition, the benefits of technology and trade are realized not just at home, but around the world. These powerful forces have created vast economic opportunity, generated wealth and jobs for millions, raised the standards of living in disadvantaged nations, and fostered peace and security around the world," added Bond.

  "Finally, U.S. environmental technology exports extend the promise of cleaner, healthier air and water and other ecological benefits across the globe. I believe that a vote for Trade Promotion Authority is a vote for global prosperity, peace and a cleaner environment. With TPA, everybody wins," Bond concluded.