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Statement from Kathryn Wylde, President & CEO of the Partnership for New York City, on Senate Passage of Trade Promotion Authority Bill

“The Senate’s vote to advance the President’s trade agenda is a major victory for New York, which stands to benefit greatly from expanded global trade activity. Already 25% of merchandise exports from the New York City metropolitan region are purchased by consumers in countries included in the Trans-Pacific Partnership, and clearing the path for new international trade agreements should result in an increase in exports, jobs and economic activity. New York’s representatives in the House should follow the Senate’s lead and pass this bill without delay.”

 

In May, nearly 100 members of the Partnership for New York City, an organization made up of New York City’s top business leaders, issued a letter to the entire New York State Congressional delegation pressing for support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA). TPA gives the President the authority he needs to secure the advantages that trade initiatives will bring to American business and workers. Signatories included: Lloyd C. Blankfein, Chairman & CEO, Goldman Sachs & Co.; Kenneth I. Chenault, Chairman & CEO, American Express Company; Philippe P. Dauman, President and CEO, Viacom Inc.; James Dimon, Chairman & CEO, JPMorgan Chase & Co.; James P. Gorman, Chairman & CEO, Morgan Stanley; and K. Rupert Murdoch, Chairman, 21st Century Fox.