METROPOLITAN AREAS AND U.S. TRADE PROMOTION AUTHORITY

WHEREAS, the U. S. Conference of Mayors recognizes that metropolitan areas are the engines of U. S. growth and global competitiveness; and according to U. S. Conference of Mayors U. S. Metro Economy Report, America's metropolitan areas shipped $567 billion worth of merchandise in 1998 and U. S. metro areas are the gateways for 83% of U. S. merchandise exports; and

WHEREAS, American exports jumped 7.2% per year from 1993 - 1999 compared with 5% annual gains in nominal gross domestic product showing that international trade provides growth opportunity for American enterprise's located in metropolitan areas; and

WHEREAS, U. S. Trade Promotion Authority, also known as Fast Track Authority, is a critical part of the President's ability to negotiate fair trade deals that will open markets, increase choices and lower costs for American farmers, workers, consumers and businesses, thus benefitting metropolitan economies; and

WHEREAS, each of the previous five Presidents since 1974 received trade negotiation authority from Congress, however this authority has not been renewed since 1994 and as a result America has fallen behind the rest of the world when it comes to trade liberalization, this inaction hurts American businesses, workers, and farmers as they find themselves shut out of the many preferential trade investment agreements negotiated by our trading partners and losing opportunities to foreign competitors,

NOW THEREFORE, BE IT RESOLVED that the U. S. Conference of Mayors urges Congress to renew U. S. Trade Promotion Authority, also known as Fast Track Authority, to the President in order to reassert America's leadership in setting trade policy and negotiate the best possible agreements for the U. S.