Neal Dunn: “It is indeed a pleasure to speak on behalf of this agreement. It has been a long time coming. I am delighted to be here…”

“It is indeed a pleasure to speak on behalf of this agreement. It has been a long time coming. I am delighted to be here on the floor supporting it. This is the first comprehensive free trade agreement between the United States and a major South American country. Passing this trade agreement will help American businesses and farmers gain better access to foreign markets. Currently, Chile already has a trade agreement with the European Union, with Mexico and Canada, but not with the United States. As a result, American businesses and farmers do not enjoy the same preferential benefits and advantages that their counterparts in these countries do. Of course, that results consistently in our losing contracts to Canada, the EU and Mexico because we must pay the 6 percent tariff in Chile since we do not have an agreement and they, of course, pay nothing which makes the cost of their goods and services much less. By leveling the playing field, this trade agreement will ensure that 85 percent of United States consumer and industrial products will receive tariff-free treatment in Chile immediately. For our farmers, over 75 percent of agricultural goods exported to Chile will be duty-free within 4 years. Furthermore, both nations renewed their commitment to continuing to work on resolving sanitary and phytosanitary issues so that artificial barriers will no longer be used to inhibit legitimate trade.”