Ways & Means Ranking Member Wants Action on GSP, MTB, KORUS
On March 29, 2011, Representative Levin (D), Ranking Member on the House Ways and Means Committee, discussed the Congressional trade agenda in a speech at the Peterson Institute for International Economics.
Renew GSP/ATPDEA/TAA, Approve KORUS FTA & MTB, Improve China Enforcement
In his speech, Ranking Member Levin stated that the trade agenda for the 112th Congress should include:
- Renew GSP, ATPDEA, TAA. An extension of the Andean Trade Preference Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA) and the Generalized System of Preferences (GSP) programs through 2011. The outstanding issues relating to longer-term operation of ATPA/ATPDEA and GSP should also be addressed. Trade Adjustment Assistance should be reinstated immediately.
- Pass second MTB -- the second Miscellaneous Tariff Bill should be approved quickly.
- Approve KORUS FTA by June -- The U.S.-Korea Free Trade Agreement (KORUS FTA) should be approved before Memorial Day. Levin accuses the Republicans of being willing to hold up KORUS FTA until they get their way on all the FTAs.
- Improve enforcement against China - have a consistent and active policy toward China and strengthen enforcement against unfair trade practices and responding to currency manipulation.
Levin Accuses Republicans of Holding Up Action on Trade Issues
Levin urges the Administration to hold its ground and insist on movement of each of the various pieces of the trade agenda only as they are ready for action. In Levin’s opinion, the Republicans are holding up action on trade issues, not the Administration.
Levin also warns that the House Republican trade strategy distracts attention from other negotiations, including the Trans-Pacific Partnership and the WTO Doha Round.
Levin speech available by emailing documents@brokerpower.com.