WASHINGTON — Top business executives are pressing Congress to give President Barack Obama greater authority to negotiate international trade deals, citing the potential for increased hiring in the United States and greater competitiveness for their companies overseas.
In a report Tuesday by the lobbying group Business Roundtable, the CEOs say their expectations for the economy have improved but that business needs more confidence to increase hiring.
Forging a 12-nation trade deal with Pacific Rim countries is one of Obama’s top priorities this year. Most Republicans, who now control Congress, support broadening trade. But Obama faces resistance from a majority of Democrats who say such agreements put the United States at a disadvantage.
“There seems to be broad bipartisan support for passing trade promotion authority for the president; the president himself is engaged and believes this is important as well,” said Business Roundtable leader Randall Stephenson, the chairman and CEO of AT&T.
