TPA Legislation Will Promote Economic Growth for the U.S Auto Industry
WASHINGTON, April 16, 2015 /PRNewswire-USNewswire/ -- The Association of Global Automakers (Global Automakers) and the American International Automobile Dealers Association (AIADA) applaud the introduction of bipartisan, bicameral Trade Promotion Authority (TPA) legislation. The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), introduced by Senate Finance Committee Chairman Orrin Hatch (R-Utah), Ranking Member Ron Wyden (D-Ore.) and House Ways and Means Chairman Paul Ryan (R-Wis.), will ensure that the United States can pursue trade agreements that support American jobs and encourage economic growth.
"The passage of Trade Promotion Authority legislation will preserve and promote the global economic competitiveness of the U.S. auto industry. Open trade and investment policies have encouraged international automakers to put down deep roots in America, creating a strong manufacturing base that supports hundreds of thousands of American jobs," said John Bozzella, president and CEO of Global Automakers. "We commend Senators Wyden and Hatch and Congressman Ryan for introducing this important bill and urge its swift consideration and passage."
International automakers have invested more than $64 billion into their U.S. operations and directly employ over 100,000 Americans. They have created U.S. jobs at every stage of vehicle development, from research and design to manufacturing, marketing and distribution. International automakers produce more than five million vehicles in the United States each year. Of these, over 800,000 are exported to more than 60 countries annually.
"Trade Promotion Authority (TPA) allows the United States to negotiate beneficial trade agreements with countries around the world," said AIADA President Cody Lusk. "Today's introduction of TPA-2015 is the first important step in passing critical pacts that benefit American consumers, businesses, and their employees. AIADA applauds Senators Wyden and Hatch and Congressman Ryan for their commitment to creating new opportunities for all Americans through trade."
The United States' nearly 10,000 international nameplate dealerships sold 9 million vehicles in 2014, employed nearly half a million workers, and share a combined payroll of over 25 billion dollars. Open trade and investment policies play a crucial role in allowing international nameplate dealers, many of whom operate second and third generation family businesses, to compete on a level playing field in cities and towns across the U.S. These policies provide consumers with competitive pricing and service on some of the most popular vehicles on American roads today.
Trade Promotion Authority is a critical gateway to open trade and economic growth for all Americans. It allows the President to submit trade agreements to Congress for a simple up-or-down vote. TPA assures foreign officials that any agreement negotiated with the U.S. will be considered as a whole, and encourages them to put their best offers forward. Congress has granted Trade Promotion Authority to every president since Franklin Roosevelt.
The passage of TPA is vital for the continued success and investment by American international automobile manufacturers, dealers, suppliers, and consumers. You can learn more about international automakers' economic impact in the United States at: http://www.globalautomakers.org/industry-report-2014.
About Global Automakers: The Association of Global Automakers represents international motor vehicle manufacturers, original equipment suppliers, and other automotive-related trade associations. Our members include American Honda Motor Co., Aston Martin Lagonda of North America, Inc., Ferrari North America, Inc., Hyundai Motor America, Isuzu Motors America, Inc., Kia Motors America, Inc., Maserati North America, Inc., McLaren Automotive Ltd., Nissan North America, Inc., Subaru of America, Inc., Suzuki Motor of America, Inc., and Toyota Motor North America, Inc.
About AIADA: Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America's 10,000 international nameplate automobile franchises that sell and service the following brands: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Maybach, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Saab, Scion, Smart, Subaru, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing more than 400,000 American jobs. Visit AIADA online at www.aiada.org.
Contact: Emily Lambe
202.650.5546 | [email protected]
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SOURCE Global Automakers
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