As a farmer and a Congressman, I strongly believe that this vote will be the most important of the 105th Congress. A failure to provide this authority to the President will result in a giant step backwards for the U.S. economy and the American people. President Clinton has requested that this Congress renew fast-track negotiating authority for trade agreements. The President is requesting the same authority that every Democratic and Republican President since 1974 has had. And the arguments for granting him this authority are just as compelling today.
Trade negotiations are crucial to the continued economic vitality of our nation.
The United States is without question the leading economic power in the world today and clearly expanded trade has been a major component in the growth of our economy. And it has been our President's use of the fast track authority that has contributed to that increased trade. The facts are irrefutable. In 1970, exports were about 13 percent of the Gross Domestic Product. Since 1978, almost 70 percent of the growth of the U.S. economy has been derived from exported goods and services.