"The Administration and congressional leaders from both parties know that the sidelines is no place for the United States of America to be when it comes to international trade. Prosperity at home and economic development opportunities overseas depend on U.S. leadership and engagement in the international market place.

Today we have seized an historic opportunity to restore the bipartisan consensus on trade with a clear and reasonable path forward for congressional consideration of Free Trade Agreements with Peru, Colombia, Panama and Korea. The new trade policy template also opens the way for bipartisan work on Trade Promotion Authority. This will ensure the creation of new economic opportunities for American farmers, ranchers, manufacturers, service providers, more choices for consumers, and help guarantee that the benefits of trade extend to all people.

I commend congressional leaders, House Ways and Means Committee Chairman Rangel and Congressman McCrery, Senate Finance Chairman Baucus and Sen. Grassley for their leadership in what has been a productive and honest series of negotiations.

I look forward to working with lawmakers from both parties on a market-opening, pro-growth trade policy, which is so fundamental to America’s economic strength and political security."