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Bill Brings U.S. One Step Closer to Realizing Ambitious Free Trade Agenda
That Will Enable Industry to Drive Historic Economic Growth

WASHINGTON (April 16, 2015) - The American Chemistry Council (ACC) released the following statement in response to the introduction of the "Bipartisan Congressional Trade Priorities and Accountability Act of 2015" (TPA-2015) by Senate Finance Committee Chairman Orrin Hatch (R-Utah), Ranking Member Ron Wyden (D-Ore.) and House Ways and Means Committee Chairman Paul Ryan (R-Wisc.):

"ACC and our  members commend Chairman Hatch, Ranking Member Wyden and Chairman Ryan for taking this critical next step toward realizing America's ambitious trade agenda. Trade Promotion Authority (TPA) can help U.S. chemical manufacturers capitalize on  economic and job-creation opportunities that could not have been conceived just a decade ago, before the  shale gas revolution made the U.S. one of the most competitive places in the world to manufacture chemicals.

"Approval of legislation to grant TPA is one of ACC's top trade priorities . TPA can help unleash the massive growth potential for U.S. chemical exports, enable chemical manufacturers to drive extraordinary job growth in the broader manufacturing sector, eliminate costly barriers to chemicals trade, and resolve 21st-century trade issues limiting manufacturing growth in the U.S. and around the world.

"U.S. chemical exports as a whole surpassed $190 billion in 2014 and are projected to expand nearly eight percent per year through 2019, to $282 billion. Even with the recent drop in oil prices, gross exports of chemical products linked to natural gas are projected to double in fifteen years , from $60 billion in 2014 to $123 billion by 2030. We see TPA as a critical factor in solidifying ambitious trade agreements that will open markets and help ensure industry can capitalize on its massive export potential.

"ACC will continue to support negotiations on the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), and we urge the Administration and Congress to move expeditiously to grant TPA to help the President and Congress carry these comprehensive negotiations across the finish line."

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