Emergency Committee For American Trade

ECAT Welcomes Administration-Congressional Deal to Move Trade Agenda Forward

Looks Forward to Reviewing Details

Washington, D.C., May 10, 2007: Harold McGraw III, Chairman, President and CEO of The McGraw-Hill Companies and Chairman of ECAT, made the following statement:

“ECAT welcomes the announcement of a bipartisan agreement between the Administration and House and Senate leaders that will allow Congressional approval this year of key trade agreements with Peru, Colombia, Panama and Korea. ECAT strongly supports comprehensive and high-standard trade agreements that promote new economic opportunities for the American economy and our workers, and that foster improved relations between the United States and our trading partners.

“We greatly appreciate the extraordinary efforts of U.S. Trade Representative Susan Schwab, Secretary of the Treasury Hank Paulson, House Ways and Means Chairman Charlie Rangel and Ranking Member Jim McCrery, Senate Finance Committee Chairman Max Baucus and Ranking Member Charles Grassley, and their colleagues in reaching an agreement that will advance our nation’s trade agenda.”

Calman J. Cohen, President of ECAT, added the following statement:

“ECAT very strongly supports Congressional approval of the key pending trade agreements as well as the renewal of trade-negotiating authority to permit the World Trade Organization’s Doha Development Agenda negotiations to move forward. We appreciate the hard work of the Administration and Members of Congress in seeking to find a bipartisan way forward on these issues and we very much look forward to reviewing closely the details of the agreement in all key areas, including investment, intellectual property rights and labor.”

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Founded in 1967, ECAT is an organization of the heads of leading U.S. international business enterprises representing all major sectors of the American economy. Their annual worldwide sales total over $2.5 trillion and they employ more than six million persons. ECAT’s purpose is to promote economic growth through the expansion of international trade and investment.

Attached Document(s): 05-10-2007 ECAT Release on Bipartisan Deal.pdf