    [Public Papers of the Presidents of the United States: William J. Clinton (1994, Book II)]
    [September 27, 1994]
    [Page 1638]
    [From the U.S. Government Publishing Office www.gpo.gov]

    [[Page 1638]]

    Message to the Congress on the General Agreement on Tariffs and Trade
    September 27, 1994

    To the Congress of the United States:
        I am pleased to transmit legislation and a number of related
    documents to implement agreements resulting from the General Agreement
    on Tariffs and Trade (GATT) Uruguay Round of multilateral trade
    negotiations. The Uruguay Round Agreements are the broadest, most
    comprehensive trade agreements in history. They are vital to our
    national interest and to economic growth, job creation, and an improved
    standard of living for all Americans.
        When fully implemented, the Uruguay Round Agreements will add $100-
    $200 billion to the U.S. economy each year and create hundreds of
    thousands of new, well-paying American jobs. They provide for a
    reduction in worldwide tariffs of $744 billion, the largest global tax
    cut in history.
        The United States will be the biggest winner from the Uruguay Round
    Agreements. We are the world's largest trading nation with the world's
    most dynamic economy. In 1993, the United States exported $660 billion
    in goods and services, accounting for more than 10 percent of the U.S.
    GDP.
        These agreements are the result of bipartisan cooperation and
    reflect the consensus supporting market-opening trade policies that the
    United States has enjoyed for decades. The Uruguay Round was launched by
    President Reagan, continued by President Bush, and concluded by this
    Administration. Each Administration consulted with the Congress and
    welcomed congressional participation and guidance throughout the
    negotiations. Similarly, this Administration has worked closely with the
    Congress to ensure that the implementing legislation that I am now
    forwarding enjoys broad bipartisan support.
        The United States has led the world on a path of open markets, freer
    trade, and economic growth. Now we must lead the way in implementing
    these agreements. The leaders of every major industrialized nation have
    pledged to take action so that the Uruguay Round Agreements can be
    implemented by January 1, 1995. Any delay on our part would send a
    negative signal to our trading partners at a time when their economies
    are just beginning to recover.
        Our economic recovery is now fully underway. As the economies in
    Europe and Japan begin again to grow, we must be positioned to reap the
    benefits of their expansion. As a result of the Uruguay Round
    Agreements, our major trading partners in Europe and Asia will cut their
    tariffs to historic lows.
        The Asian Pacific economies are the fastest growing economies in the
    world and are currently the largest market for U.S. exports. United
    States exports to Latin America, the second fastest growing region in
    the world, have grown 60 percent since 1989. The Uruguay Round
    Agreements will ensure that these fast-growing markets will be open to
    international competition and that all of our trading partners will play
    by international trading rules.
        The Uruguay Round Agreements enjoy very broad and deep support in
    the United States. Forty of our Nation's governors, numerous eminent
    economists, and the vast majority of U.S. industrial, agricultural, and
    services firms support the agreements, as do an array of former
    Presidents, Secretaries of State, Secretaries of the Treasury, and U.S.
    Trade Representatives.
        Americans are at their best when they face the challenges of their
    time. Our predecessors did so after World War II when they created a new
    international trading system that guided global growth for 50 years. Now
    we must do the same to foster sustained prosperity for the decades to
    come.
        The end of the Cold War and the rise of the global economy have
    created new challenges and new opportunities. Implementation of the
    Uruguay Round Agreements will ensure that we rise to the challenges of
    this new era and lead the world on a path of prosperity.

                                                          William J. Clinton

    The White House,
    September 27, 1994.