The American Soybean Association (ASA) praised the introduction of a bipartisan bill that will extend trade promotion authority (TPA) to President Barack Obama. Senate Finance Committee Chairman Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D-Ore.), as well as House Ways and Means Committee Chairman Paul Ryan (R-Wis.) introduced the Bipartisan Congressional Trade Priorities and Accountability Act earlier Thursday, and ASA President Wade Cowan issued the following statement on the bill:

"Trade promotion authority has always been the necessary first step toward reaching trade agreements that help drive demand for soybean farmers across the country. ASA applauds Chairman Hatch, Ranking Member Wyden and Chairman Ryan for their work on this bipartisan bill, and we call on both chambers to take this up and pass it immediately. We then hope that the renewed commitment to trade will help reach conclusion of the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership so that we may further open these key markets to American products. Trade is a bipartisan issue that helps to build the American economy, while strengthening our position in the global marketplace. Nowhere is that role more evident than in agricultural trade. As producers of the nation's leading farm export, soybean farmers know that trade supports rural economies, and ties American producers to consumers around the world. That's a role we cherish, and one that will be significantly advanced by the legislation introduced today."