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RAPAPORT... The National Retail Federation (NRF) called upon Congress to approve a trade promotion authority bill that would renew the president’s authority to submit trade agreements to Congress for a straight up-or-down vote without amendments. The bill would let Congress establish negotiating objectives for trade agreements, enhance consultation between the executive and legislative branches and establish procedures on how a trade agreement is submitted to Congress. The NRF added that this legislation is critically important in order for the U.S. to conclude ongoing trade negotiations with Asia and Europe, including the Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership. “In order to sustain our economic recovery, spur further growth and create opportunity through investment and job creation domestically, the country needs to renew its commitment to free markets and free enterprise internationally,” said NRF's president, Matthew Shay. “The trade agreements that will follow this legislation will strengthen our recovery and provide the framework for future economic and employment growth. “New trade promotion authority provides our nation’s trade negotiators with the clarity and flexibility they need to deal with our current and future trading partners,” Shay said. “Trade agreements not only benefit U.S. retailers looking to open new stores and operations in new markets by addressing barriers and the millions of U.S. workers dependent on international trade but also American consumers who will see increased product selections and lower prices.”
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