Press release

Senator Grassley calls for immediate action to open new markets (July 15, 2004)

Senator Chuck Grassley was last night presented with the Cordell Hull Award for 2004 in recognition of his stalwart and independent-minded support for trade liberalization and the multi-lateral trading system.

Accepting the Award, Senator Grassley said: �We must constantly make the case for open markets, not just inside Washington, but in every city, town and community in the nation.  We must fight aggressively to open new markets.  We need to send a signal to the world that we continue to believe in the power of trade to promote economic and political freedom.

�In making trade policy, there are some fundamental truths that should guide decision making:

�    International trade rules should be about international trade not to advance domestic social agendas

�    Protectionism is not free.  When the government protects one sector of our economy, it impacts another.  Consumers and businesses are hurt.

�    Free trade lifts all the boats.  When we trade with developing nations, they win and we win.  Trade-based economic growth enables countries to better address their development needs by combating poverty, illiteracy and poor health care.

�    Free trade promotes freedom.  It empowers individuals not governments.  The individual business owner is the backbone of international trade.

�    Free trade promotes democratic values.  It promotes consultation and cooperation, a framework for settling commercial disputes peacefully, and encourages the rule of law.

�    Free trade promotes peace.  Nations that trade together generally don�t wage war against each other.  The more likely your own economic well-being is tied to your neighbor, the less likely you�ll be to sever those ties.

�    We must be diligent in protecting past gains from free trade and relentless in our pursuit of open markets.

�Next year, Congress will face two fundamental questions.  First, do we abandon 50 years of trade liberalization by voting to withdraw from the World Trade Organization?  The answer should be 'no'.  Second, do we continue trade promotion authority as a tool to open new markets.  Here the answer should be 'yes'.  It will be a pivotal year for U.S. trade policy and we must start fighting for free trade now.�

Senator Chuck Grassley (R: Iowa), Chairman of the Senate Committee on Finance, received the Cordell Hull Award in Washington DC on July 14, 2004.