U.S. Chamber Hails Progress on U.S.-Colombia Trade Agreement
The U.S. Chamber of Commerce applauded the April 6 announcement that the United States has reached an agreement with Colombia on labor and judicial reforms that will open the door for Congressional approval of the long-pending U.S.-Colombia Trade Promotion Agreement. "Presidents Obama and Santos showed courage and pragmatism in striking this accord," said U.S. Chamber President and CEO Thomas J. Donohue. "Passionate, bipartisan support in Congress for the trade agreement with Colombia was also critical to this breakthrough, as was the tireless work of Ambassador Kirk. This proves the United States can still lead on trade. The Chamber will work closely with the White House and Congress to secure approval of the three pending free trade agreements in the weeks ahead."
U.S. tariffs on Colombian manufactured goods averaged just 0.1% last year, but Colombian tariffs on U.S. manufactured goods averaged 15% - and even higher for U.S. agricultural products. The U.S.-Colombia trade agreement will level the playing field for U.S. workers, farmers, and companies by immediately eliminating Colombian duties on more than 80% of U.S. exports. It will also open services markets and strengthen intellectual property rights, according to the U.S. Chamber, which serves as secretariat for the Latin American Trade Coalition.
"We can't afford further delay," Donohue said. "Other nations are racing to clinch their own trade deals with Colombia and put American workers at a competitive disadvantage. U.S. farmers have already seen their share of Colombia's agriculture market fall from about three-quarters two years ago to one-quarter today." A U.S. Chamber study warned that the United States will lose more than 380,000 jobs and $40 billion in export sales if the pending trade agreements suffer further delays. The Chamber sent a letter to Congress urging members to support the trade agreements with South Korea, Colombia, and Panama.
The Latin America Trade Coalition sent letters to the Congressional leadership and to President Obama recognizing the positive steps taken by the Administration on the trade agreements with Colombia and Panama and urging their approval. Strong support of the agreement was voiced by many members of Congress from both sides of the aisle. Please also visit the coalition website for an overview of the outpouring of support from companies and business and agricultural organizations.
Take action now! Urge your Senators and Representative to support the pending free trade agreements. Underscore what the trade agreements will mean for your business, organization, or association.
Small Businesses Testify before Congress on the Pending FTAs
On April 6, Quality Float Works (QFW), headquartered in the suburbs of Chicago, testified before the U.S. House of Representatives Committee on Small Business. Jason Speer, Vice President of QFW strongly made the case for approval of all three pending trade agreements as a way to both grow the U.S. economy and create jobs for Americans. Watch Jason make the case for trade.
QFW manufacturers hollow float metal balls and float valves used to level liquid controls in a wide variety of industries including gas, plumbing, oil and agricultural applications. In 2001, exported goods accounted for only 3% of their total sales. Last year, exports accounted for one third of the company's total sales.
On April 7, John Schoch, President and CEO of Profile Products LLC based in Buffalo Grove, Illinois, testified before the U.S. House of Representatives Committee on Ways and Means Subcommittee on Trade on the U.S.-Korea Free Trade Agreement. He said: "Of the more than 50 countries we export to around the world, Korea is our single largest export market, making up 12 percent of our total international sales revenue. Since 2008, Profile has sold to Korea more than 1200 tons of our Flexterra FGM, our highest technology hydraulically applied mulch product used to prevent soil erosion and develop healthy plant establishment, and 600 tons of our Porous Ceramic, an inorganic soil amendment used to manage the moisture and nutrient holding ability of sand-based root zones, specifically in golf course and sports field construction."
In advance of the hearing, the U.S. Chamber spearheaded a letter in support of KORUS from 27 former officials including former Secretaries of State Colin Powell and Madeline Albright, former U.S. Trade Representatives Mickey Kantor and Susan Schwab, and former White House Chiefs of Staff Mack McLarty and Andy Card. The letter on KORUS was sent to Speaker Boehner; Minority Leader Pelosi; Majority Leader Reid; and Minority Leader McConnell, and it also expressed support for the agreements with Colombia and Panama.
The letter read in part: "While creating new American jobs, KORUS will reinforce the full partnership we have with South Korea, a key Asian ally that shares our belief in democracy and has provided significant military and economic support in the Middle East and Afghanistan. Furthermore, KORUS will have positive strategic effects that will resonate beyond the Korean peninsula. The agreement with South Korea will prompt further trade liberalization and stand as a new anchor for our longstanding leadership position in a rapidly changing Asia."
