    [Public Papers of the Presidents of the United States: George W. Bush (2002, Book II)]
    [August 6, 2002]
    [Pages 1354-1356]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks on Signing the Trade Act of 2002
    August 6, 2002

        Well, thank you all very much for that warm welcome. Welcome to the
    people's house as we celebrate a victory for the American economy. Last
    week, the United States Congress passed trade promotion authority and
    renewed and expanded the Andean Trade Preference Act.
        Trade is an important source of good jobs for our workers and a
    source of higher

    [[Page 1355]]

    growth for our economy. Trade is an important source of earnings for our
    farmers and for our factories. It creates new opportunities for our
    entrepreneurs. Trade expands choices for America's consumers and raises
    living standards for our families. And now, after 8 years, America is
    back in the business of promoting open trade to build our prosperity and
    to spur economic growth.
        I appreciate so very much Vice President Cheney's hard work on this issue. I appreciate Colin
    Powell and Ann Veneman, who ably serve in my Cabinet. I want to particularly
    thank Don Evans, who's not with us, and Bob
    Zoellick, members of my Cabinet who both
    worked tirelessly to get the vote in the House and then in the Senate,
    and I appreciate Elaine Chao as well. These
    Cabinet Secretaries worked hard for trade. They understand the promise
    of trade, and I appreciate their hard work on behalf of American workers
    and farmers.
        I particularly want to thank the Members of Congress who are here
    with us, starting with the chairman of the Senate Finance Committee, the
    Senator from Montana, Max Baucus. Max did
    fantastic work to get this trade bill through the Senate and was then
    able to work with Chairman Thomas.
    [Laughter] Chairman Thomas was heroic in the House. He was steadfast in
    his support for trade, and I appreciate his leadership on this issue.
    And I want to thank both Members of the United States Congress, one
    Democrat, one Republican, who put their country ahead of their parties
    to do what was right for the people of this country. You two deserve a
    lot of congratulations. I want to thank Senator Hatch, who was a conferee and a member of the Finance Committee.
    Thanks for coming, Senator. I want to thank my fellow Texan Tom
    DeLay, the best vote-counter in the history of the
    United States Congress. [Laughter] After all, he was able to triple--
    [laughter]--the vote margin on final passage. I appreciate so very much
    Cal Dooley and a guy I call ``Jeff,''
    William Jefferson, Congressmen from
    California and Louisiana, and I want to thank them for their work as
    well. They led the Democrats in the House of Representatives, many of
    whom are here today, to do what's right for our country. And again, I
    appreciate your leadership, and I appreciate your work, and I appreciate
    your help.
        I want to thank Embajadora A-Baki from
    Ecuador. I want to thank you for coming. I also want to thank Carlos
    Alzamora from Peru and all the other
    ambassadors who are here. I want to appreciate you--appreciate your hard
    work on sending the message of trade to Members of our Congress. I want
    to thank you for your diligence, and I want to thank your Presidents for
    their care and concern about this incredibly important initiative, not
    only for Americans but for workers all around the world. Thank you all
    for coming.
        With trade promotion authority, the trade agreements I negotiate
    will have an up-or-down vote in Congress, giving other countries the
    confidence to negotiate with us. Five Presidents before me had this
    advantage, but since the authority elapsed in 1994, other nations and
    regions have pursued new trade agreements while America's trade policy
    was stuck in park. With each passing day, America has lost trading
    opportunities and the jobs and earnings that go with them. Starting now,
    America is back at the bargaining table in full force.
        I will use trade promotion authority aggressively to create more
    good jobs for American workers, more exports for American farmers, and
    higher living standards for American families. Free trade has a proven
    track record for spurring growth and advancing opportunity for our
    working families. Exports accounted for roughly one-quarter of all U.S.
    economic growth in the 1990s. Jobs in exporting plants pay wages that
    are up to 18 percent higher than jobs in nonexporting plants. And our
    two major trade agreements, NAFTA and the Uruguay Round, have created
    more choices and lower prices for consumers

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    while raising standards of living for the typical American family of
    four by $2,000 a year.
        America will build on this record of success. A completely free
    global market for agricultural products, for example, would result in
    gains of as much as $13 billion a year for American farmers and
    consumers. Lowering global trade barriers on all products and services
    by even one-third could boost the U.S. economy by $177 billion a year
    and raise living standards for the average family by $2,500 annually. In
    other words, trade is good for the American people, and I'm going to use
    the trade promotion authority to bring these benefits to the American
    people.
        Free trade is also a proven strategy for building global prosperity
    and adding to the momentum of political freedom. Trade is an engine of
    economic growth. It uses the power of markets to meet the needs of the
    poor. In our lifetime, trade has helped lift millions of people and
    whole nations and entire regions out of poverty and put them on the path
    to prosperity. History shows that as nations become more prosperous,
    their citizens will demand and then can--and can afford a cleaner
    environment. And greater freedom for commerce across the borders
    eventually leads to greater freedom for citizens within the borders.
        The members of the diplomatic corps with us today understand the
    importance of free trade to their nations' success. They understand that
    trade is an enemy of poverty and a friend of liberty. I want to thank
    the ambassadors for their role in getting this bill passed, especially
    the Andean ambassadors, who are such strong advocates for the Andean
    Trade Preference Act. By providing trade preference for products from
    four Andean democracies, we will build prosperity, reduce poverty,
    strengthen democracy, and fight illegal drugs with expanding economic
    opportunity.
        Trade promotion authority gives the United States an important tool
    to break down trade barriers with all countries. We'll move quickly to
    build free trade relationships with individual nations, such as Chile
    and Singapore and Morocco. We'll explore free trade relationships with
    others, such as Australia. The United States will negotiate a Free Trade
    Area of the Americas and pursue regional agreements with the nations of
    Central America and the Southern African Customs Union. We'll move
    forward globally, working with all nations to make the negotiations
    begun last year in Doha a success. A little more than a week ago, the
    United States put forward a far-reaching proposal to lower worldwide
    agricultural trade barriers. These innovative set of ideas can lead to
    real progress in this challenging area.
        Trade gives all nations the hope of sharing in the great economic
    and social and political progress of our age. And trade will give
    American workers the hope that comes from better and higher paying jobs.
    America's committed to building a world that trades in freedom and grows
    in prosperity and liberty. Today we have the tools to pursue that
    vision, and I look forward to the work ahead.
        And now it's my honor and pleasure to sign into law the Trade Act of
    2002.

    Note: The President spoke at noon in the East Room at the White House.
    In his remarks, he referred to Ivonne A-Baki, Ecuador's Ambassador to
    the United States; and Carlos Alzamora Traverso, Peru's Ambassador to
    the United States. H.R. 3009, approved August 6, was assigned Public Law
    No. 107-210.