you know, trade and exports are important in States like Illinois, and particularly the district that I represent. In Illinois, 17,000 businesses depend on exports for their survival. Forty percent of the corn soybeans and pork and beef and other livestock products are exported. One out of five manufacturing jobs is dependent on exports. We have an opportunity today to expand trade. The 14 trade agreements this Congress has adopted in the last 12 years have created 16 million new jobs. Today, we have before us the U.S.-Peru Free Trade Agreement. What's nice about this agreement is it makes trade a two-way street. Right now, Peruvian products enter the United States duty free. Manufactured goods, agricultural products from Peru enter the United States without tariffs or duties, but it's not reciprocal. Caterpillar, for example, our biggest manufacturer in Illinois, their products face a 12 percent tariff. What's good about the agreement we're going to vote for today is 80 percent of the tariffs on manufactured goods are gone on day one for U.S. products exported to Peru under this trade agreement. It is good for Illinois workers, it's good for Illinois manufacturers, and I also note for Illinois farmers. Right now, they're at a disadvantage. It gives them the opportunity to be competitive. Let's have a bipartisan vote for U.S.-Peru.
Editor's note · Context
Discussing the benefits of the U.S.-Peru Free Trade Agreement for Illinois businesses and workers.
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