    [Public Papers of the Presidents of the United States: William J. Clinton (1993, Book I)]
    [July 2, 1993]
    [Page 993]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Signing Legislation Extending Fast Track Procedures for the
    GATT Multilateral Trade Negotiations
    July 2, 1993

        Today I am pleased to sign into law H.R. 1876, extending legislative
    ``fast track'' procedures to conclude the Uruguay Round of multilateral
    trade negotiations. I want to extend my thanks to the Congress for its
    broad bipartisan support for this legislation and the Administration's
    trade policies.
        Fast track authority is critical to our effort to complete these
    important negotiations by December 15, 1993. Fast track procedures give
    our negotiators the bargaining power they need in Geneva, while at the
    same time ensuring the Congress' role during the negotiation and
    approval of a Uruguay Round agreement.
        The Uruguay Round is an ambitious effort, involving more than 100
    nations, to lower tariff and non-tariff barriers around the world and to
    strengthen and update a set of rules for international trade that have
    become increasingly ineffective and obsolete.
        Completion of the Uruguay Round would provide a major boost to the
    world economy at a time when it is crucially needed. As the world's
    leading exporter--and the world's most open economy--the United States
    stands to benefit significantly by reducing trade barriers and opening
    markets around the world for manufactured goods, agricultural products,
    and services.
        We remain committed to completing these important negotiations this
    year, and we will encourage our trading partners to make their
    contribution to bringing the negotiations to a successful conclusion.

                                                          William J. Clinton

    The White House,
    July 2, 1993.

    Note: H.R. 1876, approved July 2, was assigned Public Law No. 103-49.
    This statement was released by the Office of the Press Secretary on July
    3.