Contact: Ryan Baldwin, (202) 249-6517
WASHINGTON (Jan. 9, 2014)
The American Chemistry Council (ACC) today lauded the introduction of the "Bipartisan Congressional Trade Priorities Act of 2014" by Senators Baucus and Hatch, along with Representative Camp, which will grant President Obama Trade Promotion Authority (TPA).
The following statement can be attributed to ACC President and CEO
"ACC and our
applaud Senate and House leaders for championing legislation that will fast-track free trade agreements that are critical to the growth and global competitiveness of U.S. chemical manufacturers. Trade Promotion Authority is essential to getting these agreements across the finish line.
"As one of the nation's leading export industries, the reduction or elimination of trade barriers and the opening of new markets are of critical importance to the U.S. business of chemistry. The increased availability of
low cost natural gas
has been a game changer for the competitiveness of American chemical manufacturers, laying the groundwork for a broader manufacturing renaissance and attracting significant foreign investment to U.S. shores.
"ACC forecasts U.S. chemical exports to grow significantly in future years, surpassing $200 billion in 2014 and expanding nearly eight percent per year through 2018. Trade agreements like the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership will pair those exports with new markets and help generate further economic growth and job creation in the U.S.
"ACC and our member companies look forward to working with Congress and partners in the Trade Benefits America Coalition to advocate strongly for the bill's passage."
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