Statement by the President Upon Signing the Trade Agreements Extension Act.

I HAVE TODAY approved H. R. 12591 extending the reciprocal trade agreements program for a four-year period. This legislation represents a firm, forward step on the road to a stronger America in a world at peace.

While I believe that a five-year extension would have best served the interests of the United States, yet the Congress is to be particularly commended for enacting the longest extension in the history of the trade agreements program. The United States now has a lengthened opportunity, through this medium, to enlarge its own output and employment. In addition, the free nations are now assured of a continuity in United States trade policy that will make possible new international negotiations to promote mutually advantageous commercial exchange and increased world productivity.

As the authority conferred by this important measure is used, it will further our own nation's domestic interests and will promote the economic strength, solidarity and security of the free and independent nations.