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Agricultural News


American Farm Bureau says Further Delay on FTA's is a Loss for U.S. Economy

Fri, 08 Jul 2011 12:09:05 CDT

The Senate Finance and the House Ways and Means Committees recently met separately to discuss the free trade agreements with Colombia, Panama and South Korea. Expansion of the Trade Adjustment Assistance program was also on the Senate Finance agenda. Both committees approved the three trade deals - clearing the way for the President to submit the deals to the Hill for votes.


American Farm Bureau President Bob Stallman released the following statement with his thoughts on the recent completion of the free trade agreement mock markups.


"The American Farm Bureau Federation is pleased both the Senate and House committees have approved the Korea, Colombia and Panama free trade agreements through the mock markup process. The process toward finalizing these important trade deals is heading in the right direction.


"The next step is for the administration to send the implementing legislation to Capitol Hill for a Congressional vote. It is imperative that the process promptly move forward to ensure the agreements will be completed by August recess. Inaction on these trade agreements over the last four years has opened the door to our competitors in these markets. Further delay will only exacerbate the losses for U.S. agriculture and the U.S. economy.


"Combined, the three FTAs represent nearly $2.5 billion in new agriculture exports and could generate support for up to 22,500 U.S. jobs. These gains will only be realized if the three agreements are passed by Congress and implemented."


 

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