Dreier Praises Passage of Historic Trade Agreements
First FTA's approved under TPA pass with strong bipartisan support

July 24, 2003

WASHINGTON, DC - Saying they will "bring the U.S. economy into the 21st century," Congressman David Dreier (R-CA), Chairman of the House Rules Committee, voted today to approve the first trade agreements reached under Trade Promotion Authority (TPA) since it was approved last summer. The Singapore and Chile Free Trade Agreements were approved with broad bipartisan support.

"When TPA lapsed in 1994, the American economy was left on the sidelines of global trade for far too long," Dreier said. "Today's votes send an important signal to the world that America is ready to come back to the negotiating table and create trade agreements that will improve the economies and lives of people here at home and abroad. History has shown us that trade can and will deliver for the American people. President Bush and Ambassador Zoellick have done an outstanding job with these first two agreements. Hopefully, they are the first of many more to come."

The Singapore Free Trade Agreement (FTA) creates an agreement with our 12th largest trading partner last year. It reduces barriers to trade on high technology products and services and establishes unprecedented intellectual property protections. It pays particular attention to protecting copyrights, patents and trademarks for emerging technologies and digital products - sectors where American innovation makes us a global leader. The FTA is also a recognition of the strong support the country has given the U.S. in the war against terrorism. Dreier noted that economic cooperation often yields cooperation in other important areas including law enforcement.

Under the FTA negotiated with Chile, they will immediately remove the 6 percent tariff on 85 percent of American exports. The remaining tariffs will be phased out over the next twelve years. In 1997, California exported about $490 million worth of goods to Chile. By 2001, that number had decreased by $140 million largely due to Chile's implementation of trade agreements with Brazil, Argentina, Mexico, and Canada. Dreier said it was time we reached this agreement so that we can back to trading with Chile, and begin the process of negotiating a Free Trade Area of the Americas.