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NEWS STATEMENT FOR IMMEDIATE RELEASE CONTACT: Audrae Erickson 202-331-1634 or Shannon Shoesmith 304-229-6202 August 1, 2002 SENATE PASSAGE OF TPA TO ENSURE PRODUCTIVE GLOBAL AG TALKS American agriculture will benefit from today’s Senate passage of Trade Promotion Authority (TPA) legislation as U.S. negotiators join other member countries of the World Trade Organization (WTO) to engage in agricultural trade talks. The Corn Refiners Association, Inc. (CRA) praised the Senate vote of 64 to 34 in favor of the measure that will allow the U.S. to lead the global talks toward a fair and market-oriented world agricultural trading system. “We thank the Senate for their vote in favor of fair trade. U.S. agriculture stands to benefit immediately from TPA with the aggressive U.S. proposal to the WTO agricultural talks,” said CRA President Audrae Erickson. “Armed with TPA, our negotiators can provide the leadership to ensure a positive outcome of the talks.” The U.S. proposal calls for significant increases in market access and reductions in global domestic support programs. If achieved, the proposal will eliminate disparities in agricultural import tariffs, government sanctioned payments to producers and export subsidies that currently disadvantage U.S. agricultural interests. In 2001, the U.S. corn wet milling industry exported over 6.5 million metric tons of products worth approximately $1.1 billion. Exports accounted for nearly 30 percent of total product shipments last year. A positive outcome of the WTO agricultural talks would present real opportunities for growth in exports fueled by rapid expansion of global food demand. EDITORS NOTE: Export figures reported by the U.S. Department of Commerce. For more information on the corn refining industry, visit the Corn Capsules newsletter page. 
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