[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
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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.
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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.