DISCUS And The Wine Institute Eye Export Growth After “Fast-Track” Approval

DISCUS and the Wine Institute are hailing yesterday’s Congressional vote in favor of Trade Promotion Authority (TPA), commonly known as “fast-track” authority, which is expected to facilitate passage of at least two blockbuster free trade deals for the U.S. The House vote was 218-208 and the Senate passed TPA by a vote of 60-38. President Obama has sought TPA—which will allow Congress to approve or disapprove administration-negotiated trade deals with an up or down vote but not offer amendments for the next six years—to help move forward trade deals with 11 Pacific Rim nations and the European Union, respectively, with the countries currently in negotiation accounting for 60% of the world’s economy in aggregate.

“Trade agreements have contributed directly to record U.S. spirits exports, which have more than doubled over the past decade,” said DISCUS president and CEO Peter Cressy. U.S. spirits exports reached $1.5 billion in 2014, matching the total for U.S. wine exports, which have jumped by two-thirds over the last five years.

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Tagged : DISCUS, Wine Institute

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