Buchanan Named Top Republican on Trade Committee

Statement

U.S. Rep. Vern Buchanan today was named the lead Republican of the House Ways and Means Trade Subcommittee, which has broad jurisdiction over international trade policy.

"I look forward to promoting fair trade policies that help American workers and businesses," Buchanan said. "Leveling the playing field for Florida and the rest of the nation as well as increasing access to foreign markets is critical to growing the U.S. economy and creating good-paying jobs."

As the ranking Republican on the Trade Subcommittee, Buchanan will help play a leading role shaping trade legislation in Congress. The Trade Subcommittee oversees tariffs, customs, bilateral and regional trade agreements and international trade rules and organizations.

Congressman Kevin Brady, top Republican on the Ways and Means Committee, stated, "I look forward to working with Vern as we continue to fight for policies that promote more opportunities for workers and families across the country."

Buchanan noted that international trade is critical to his home state of Florida, where exports and imports support 2.3 million jobs. Through its 15 deepwater seaports, Florida exports tens of billions of dollars in goods and services annually, which range from aerospace materials, to citrus products, to travel services.

The Congressman also notes that, "these ports contribute more than $100 billion in economic value to Florida. In my own backyard, Port Manatee generates more than $2.3 billion in annual economic impact for our region and supports more than 24,000 jobs."

The Trade Subcommittee will also play a critical role this Congress in considering the recently renegotiated North American Free Trade Agreement (NAFTA). Last November, leaders of the United States, Canada and Mexico retooled the trilateral trade deal, known as the U.S. Mexico Canada Agreement (USMCA). The new trade agreement still needs to be ratified by Congress before it goes into effect and officially replaces NAFTA.

Buchanan's subcommittee will also oversee the Trump Administration's trade strategies, including its use of tariffs and retaliatory action against other nations . Specifically, Buchanan noted that he is looking forward to working with the administration to address concerns regarding China's intellectual property theft and its practice of so-called forced technology transfers.

The economic benefits of trade are well documented, with international trade supporting more than 41 million American jobs. International trade agreements create a huge opportunity to help grow the American economy by easing barriers and opening up foreign markets to U.S. goods and services.

Buchanan, who most recently served as the Ways and Means Tax Policy Subcommittee chairman, previously chaired the subcommittees on Oversight and Human Resources. The congressman will also serve on the Health subcommittee this Congress.

The congressman has served on the Ways and Means Committee since January of 2011. His 2015 appointment as subcommittee chairman of Human Resources marked the first time a Floridian led a Ways & Means Subcommittee since U.S. Rep. Clay Shaw, R-Fla., chaired the Trade Subcommittee for the 109th Congress (2005-2006). Ways and Means is widely considered the most powerful committee in Congress because of its broad jurisdiction, including international trade, taxes, health care, Social Security, Medicare and welfare.

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