U.S. trade agreements will hold other countries to a higher standard of accountability because of provisions Rep. Rick Larsen, WA-02, pushed for in a trade enforcement bill (Trade Facilitation and Trade Enforcement Act of 2015) that the U.S. House passed today. Larsen championed a new trust fund to pay for enforcement actions against other countries that break trade rules. He also supported a provision to require quick action against countries engaging in unfair trading practices, as well as an office dedicated to ensuring other countries play by the rules or face consequences.
Larsen voted in favor of the House version of the bill earlier this year and pointed out the even stronger measures to enforce trade agreements and help small businesses in the bill he supported today.
Strong Enforcement
"If other countries want to trade with us, they must play by the rules or face the consequences. The bill I voted for today creates for the first time a trust fund dedicated to enforcing trade deals. This fund is not just words on paper. It is real money, up to $30 million, to make sure our trading partners play fairly.
"The bill also makes permanent an office dedicated specifically to enforcing trade agreements. The office has a strong track record since its inception in 2012, helping bring cases to the World Trade Organization (WTO) against countries like Argentina, China and India for unfair trade practices. Since 2009, the U.S. has brought 20 complaints to the WTO, more than any WTO member, and has won every case that has been decided so far.
"With the new trust fund and more trade cops on the beat, the U.S. will be better equipped to track down and put a stop to countries that are creating an unfair playing field for our workers," Larsen said.