    [Weekly Compilation of Presidential Documents Volume 38, Number 32 (Monday, August 12, 2002)]
    [Pages 1317-1319]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    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 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

    [[Page 1318]]

    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 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.

    [[Page 1319]]

    Note: The President spoke at 12 p.m. in the East Room at the White
    House. In his remarks, he referred to Ambassadors to the United States
    Ivonne A-Baki of Ecuador and Carlos Alzamora Traverso of Peru. H.R.
    3009, approved August 6, was assigned Public Law No. 107-210.