On Wednesday evening, the Senate voted to pass a Trade Promotion Authority (TPA) bill, or fast-track, as well as an extension of the Africa Growth and Opportunity Act and other trade preference programs.  The latter bill was amended to include renewal of Trade Adjustment Assistance (TAA) and trade remedy improvements that are extremely important to the steel industry.  As the House of Representatives approved TPA last week and passed the other bill today, both pieces of legislation now await President Obama’s signature. 

“SMA is appreciative of the bipartisan efforts of numerous Congressional leaders.  We are focused first and foremost on strengthening our nation’s trade enforcement and trade remedy provisions, and we view passage of this legislation as a major step in that process.   It is vitally important that U.S. trade laws remain an effective tool for domestic steel companies, their employees, and surrounding communities” said Philip K. Bell, president of the SMA.

“Additionally, TPA will give our negotiators leverage in the pursuit of bilateral and multilateral trade agreements, including the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP).  These negotiations must confront the realities and challenges of 21^st Century trade, and should be used as forums to establish stronger global international trading rules and to promote U.S. competitiveness, jobs, and exports” said Bell.
 
 

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SMA is the primary trade association for North American electric arc furnace steel producers.  SMA’s 30 member companies account for over seventy-five percent of total domestic steel production.  For more information, please visit the SMA’s website: www.steelnet.org.