[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
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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.