UPS Applauds Signing of Historic Bipartisan Trade Promotion Authority

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    UPS CEO David Abney Says Legislation Enhances U.S. Leadership Role on Global Trade

    UPS® (NYSE: UPS), a global logistics provider and leading advocate for global trade, commends the U.S. Congress on passage of critical Trade Promotion Authority (TPA) legislation and is pleased that President Obama is signing it into law today.

    "Trade is vital to the U.S. economy, supporting global growth and spurring job creation," said David Abney, CEO of UPS. The Administration and Republican and Democratic leaders in Congress deserve great credit for finding common ground in legislation that will enhance U.S. leadership on global trade by opening new markets to American businesses and consumers as well as breaking down barriers to our exports.”

    "We thank Speaker Boehner and Leader McConnell for delivering a successful vote on TPA. We also thank Chairman Hatch and Ranking Member Wyden, as well as Chairman Ryan for their leadership in crafting a bipartisan TPA bill that will facilitate increased global commerce through comprehensive trade agreements. UPS also thanks the Obama Administration, including U.S. Trade Representative Michael Froman, for their hard work in getting TPA approved.

    TPA is key to ensuring Congress has an opportunity to help shape trade agreements during their negotiation and to require an up or down vote once they are negotiated. The trade agreements that TPA will help facilitate are essential for the growth of UPS and its customers. Each day, UPS alone handles six percent of U.S. GDP and two percent of global GDP. Global trade, therefore, is important to the future of UPS and its more than 350,000 employees in the United States.

    “With the exceptional opportunities before us, including negotiations on a Trans-Pacific Partnership Agreement, Transatlantic Trade & Investment Partnership, and Trade in Services Agreement, this legislation is more important than ever for U.S. global leadership as negotiators determine the rules of trade going forward with other countries, ensuring fair competition and access to new markets,” Abney continued.

    UPS is also pleased with the successful bipartisan passage of Trade Adjustment Assistance (TAA) legislation, which is an important part of U.S. trade policy enabling the American workforce to be better equipped and more competitive in the 21st century economy. Additionally, the company supports a prompt conference process to resolve the differences in the Trade Facilitation and Trade Enforcement Act legislation which will provide critical customs modernization procedures that will simplify the clearance process and make America’s borders more secure.