Toomey Statement on U.S. - Mexico Trade Agreement
Washington, D.C. - U.S. Senator Pat Toomey (R-Pa.) released the following statement regarding the administration's possible trade agreement with Mexico:
"I hope today's announcement represents a significant step toward ending the incipient trade war between the U.S., Mexico, and Canada. Ultimately, the merits of this agreement will be determined by the details.
"The administration's contention that the agreement improves market access for dairy farmers, and strengthens intellectual property rights, is encouraging. Nevertheless, I continue to have serious concerns about an arbitrary wage mandate for the auto sector, any weakening of protections for U.S. investors, and an automatic self-termination of the agreement after a specified period of a time. Such a "sunset" provision would discourage trade and investment, as well as set the wrong precedent for future agreements.
"To use Trade Promotion Authority's ‘fast-track' procedures, the administration must also reach an agreement with Canada. NAFTA was a tri-party agreement only made operative with legislation enacted by Congress. Any change, such as NAFTA's termination, would require additional legislation from Congress. Conversion into a bilateral agreement would not qualify for TPA's ‘fast track' procedures and would therefore require 60 votes in the Senate.
"In the coming days, I look forward to learning more about the new agreement and discussing it in further detail with administration officials."