[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.