Contact: Ryan Baldwin (202) 249-6517
Email: ryan_baldwin@americanchemistry.com

WASHINGTON (June 24, 2015) - The U.S. Senate today passed H.R. 2146, the "Bipartisan Congressional Trade Priorities and Accountability Act of 2015," granting President Obama Trade Promotion Authority (TPA). American Chemistry Council (ACC) President and CEO Cal Dooley issued the following statement:

"ACC applauds the Senate and members of the U.S. House of Representatives for bringing our country one step closer to realizing its historic international trade agenda. TPA is essential for concluding ambitious trade agreements which can help facilitate a powerful surge in U.S. chemical exports and boost economic growth and job creation at home.

"The chemical industry is already one of the nation's largest exporters, surpassing $190 billion in exports in 2014, accounting for twelve cents out of every dollar in U.S. exports. The future looks even brighter: we estimate total chemical exports could expand nearly eight percent per year through 2019 to $282 billion, while exports of shale-gas advantaged chemicals could double by 2030. Given the critical role of the chemical industry in the broader manufacturing sector, our growth will also help drive increased investment and growth throughout the economy.

"The bipartisan TPA legislation also open the doors for historic free trade agreements, in particular the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP), which can boost manufacturing, create jobs and grow our nation's economy. Granting the President TPA sends a signal to our partners around the world that America embraces its continued leadership role in the global economy, and that rules-based trade should form the basis of our international trade system.

"We're pleased President Obama now has the tool that presidents have used for more than thirty years to get the job done. We also call on Congress to expeditiously approve remaining trade bills, such as the re-authorization of the Miscellaneous Tariff Bill (MTB), to help resolve trade issues that limit manufacturing growth in the U.S. and around the world."

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