Statement of Administration Policy: H.J. Res. 27 - Withdrawing Support for the WTO Agreement

STATEMENT OF ADMINISTRATION POLICY

(House)

(Sanders (I-VT) and 10 cosponsors)

The Administration strongly opposes H.J. Res. 27, which would withdraw Congressional approval of the Agreement Establishing the World Trade Organization (WTO). Participation by the United States in the WTO expands the U.S. economy and provides jobs for Americans by opening foreign markets to U.S. goods and services.

The United States is the world's largest trading nation and the leader of the global economy. U.S. participation in the WTO and its predecessor, the GATT, has contributed to the expansion of U.S. exports of goods and services, which have risen by almost $443 billion since 1994. The ongoing multilateral negotiating round under the WTO, referred to as the Doha Development Agenda, offers a real opportunity to expand economic growth and raise incomes in the United States and abroad. In addition to promoting U.S. exports, spurring innovation and wage growth, and creating job opportunities, an ambitious conclusion to this new negotiating round can also be a powerful tool for advancing economic reform and development and reducing poverty worldwide.

By its participation and leadership in the WTO, the United States: (1) advances U.S. interests by expanding the global economy; (2) lowers trade barriers and promotes new opportunities for American workers, firms, farmers, and ranchers; (3) strengthens the rule of law in international commerce; and (4) promotes economic stability and peace by giving nations stronger stakes in one another's prosperity and stability.

If the United States pulled out of the WTO, it would: (1) cost America business and jobs; (2) allow foreign countries to discriminate against American goods, services, workers, firms, and farmers; (3) injure America's ability to hold other countries to the terms of their trade commitments; and (4) create uncertainty and risk in the U.S. and world economy.

U.S. participation in the WTO has been highly beneficial to the United States. The Administration will continue to advance the economic interests of Americans in the WTO and enforce U.S. rights under WTO agreements.