Monday, October 3, 2011

A Boost For Agriculture Exports: President Obama Sends Free Trade Agreements To Congress

South Korea, Columbia, and Panama; fact sheets on benefits for agriculture...
President Obama
today sent pending trade agreements with Panama, Columbia and South Korea to the US House for approval, a signal that he expects lawmakers to approve trade adjustment assistance for US farmers and workers hurt by free trade. The Senate has already approved this. Agriculture groups have been pushing for approval of the agreements for a number of years because these will reduce and/or eliminate tariffs on US farm products, making them competitive with products from other countries that already have free trade agreements with Colombia, Panama and South Korea.

“The series of trade agreements I am submitting to Congress today will make it easier for American companies to sell their products in South Korea, Colombia, and Panama and provide a major boost to our exports," President Obama said in a statement released by the White House.

"These agreements will support tens of thousands of jobs across the country for workers making products stamped with three proud words: Made in America. We've worked hard to strengthen these agreements to get the best possible deal for American workers and businesses, and I call on Congress to pass them without delay, along with the bipartisan agreement on Trade Adjustment Assistance that will help workers whose jobs have been affected by global competition.”

On October 13th, President Obama will welcome President Myung-bak Lee of the Republic of Korea to the White House for an an official State Visit and State Dinner.

"The tariff reductions in this agreement alone are expected to boost annual exports of American goods by up to $11 billion," President Obama said when announcing the US-Korea agreement in December of 2010. It's also expected to support at least 70,000 American jobs, according to the President, if it is approved by Congress.

South Korea overview:

*Fact Sheet On US-South Korea Free Trade Agreement [PDF]

*Economic Value of US-South Korea Free Trade Agreement [PDF]

*USTR agriculture information for South Korea agreement is here.

*USDA's Fact Sheet on Benefits For Agriculture [PDF]

Other fact sheets:

*Fact Sheet: Agriculture and the US-Panama Trade Agreement [PDF]

*Fact Sheet: Expanding US Markets For America's Farmers and Ranchers through US-Colombia Trade Promotion Agreement [PDF]


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