President Obama signed two pieces of legislation June 29 that together will allow him to move his trade agenda forward and continue negotiating the Trans-Pacific Partnership free trade agreement.
“This legislation will help turn global trade, which can often be a race to the bottom, into a race to the top,” Obama said. “It'll reinforce America's leadership role in the world, in Asia, and in Europe and beyond.”
First, Obama signed the Defending Public Safety Employees’ Retirement Act (H.R. 2146). The bill was amended so that Title I of the bill gives the president trade promotion authority, or the ability to present trade agreements to Congress for an up-or-down vote.
Obama also signed the Trade Preferences Extension Act (H.R. 1295) to provide trade adjustment assistance for workers who lose their jobs because of a free trade agreement.
In a signing ceremony at the White House, Obama said he would not be signing these bills if he were not absolutely convinced that they were good for U.S. workers and businesses.
UPS Inc. praised the approval of the legislation.
“Trade is vital to the U.S. economy, supporting global growth and spurring job creation,” said David Abney, CEO of UPS. “The administration and Republican and Democratic leaders in Congress deserve great credit for finding common ground in legislation that will enhance U.S. leadership on global trade by opening new markets to American businesses and consumers as well as breaking down barriers to our exports.”
