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Cordell Hull Award Recognizes Senator Hagel's Support for Free Trade (May 8, 2003)

IN THE SPIRIT of Cordell Hull, the visionary and pragmatic Congressman, Senator and Secretary of State who inspired the rules-based multilateral trade regime, the Institute is establishing the annual Cordell Hull Award in recognition of those who have made significant contributions to public support for the international economic order and the movement towards an open world economy. 

The first recipient of the Cordell Hull Award is to be Senator Chuck Hagel, the senior U.S. senator from Nebraska and a leading member of the Senate banking, foreign relations and intelligence  committees.  The award recognizes his consistent, vigorous and courageous support for free and open trade, as reflected in his firm positions on recent legislation:

On Trade Promotion Authority:  “Passage of this legislation sends a message to the world that America is committed to free trade.  Free trade provides for economic growth, democratic governance in developing countries and promotes American values around the world.  Trade underpins a global economic order that is essential to our own economic security” – August 1, 2002.

On International Investment:  “The purpose of the investment protections [in the TPA bill] is to afford the same protections to U.S. companies in foreign countries that foreign companies get in U.S. courts.  Given the developing world’s lack of sound judicial sys-tems, there is a need for an investor-state dispute-settlement mechanism that is based on U.S. law, practices and legal principles” – May 21, 2002.

On the Export-Import Reauthorization Act of 2002:  “The Ex-Im Bank is an important component of U.S. economic and international policy.  It helps U.S. companies get their products and services to customers overseas and it helps new exporters get started in the global marketplace” – May 23, 2002.

On the Farm Act of 2002: “This bill takes us down the dark road of antique farm policy – moving our farmers back to the days of more government control.  We will live with the results of this farm bill for years to come” – February 13, 2002.

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Cordell Hull Award

Senator Chuck Hagel received the first Cordell Hull Award at an Institute reception in Washington, DC, on May 8, 2003.