Lynn Jenkins: “I would like to thank the honorable chairman from Texas for his leadership on the issue of trade and for yielding. In…”

“I would like to thank the honorable chairman from Texas for his leadership on the issue of trade and for yielding. In today's global economy, it's essential that we make every reasonable effort to open foreign markets to American products. Yet today, as our country is struggling with a lackluster GDP and stagnant job creation, grocery stores in South Korea are signing long-term agreements with beef producers from Europe, not America. Why European, not American? Well, the reason is simple. While this administration has dragged its feet in the approval process of our own agreement, the European Union was able to enact their agreement with South Korea before the United States could take up our own. Therefore, the South Koreans are able to purchase European goods--most notably, agriculture products--at a much lower rate and prices because, unlike American goods and commodities, they do not have costly tariffs attached to them. The same is true with American goods and agriculture products in Colombia and Panama. In the first 2 weeks after the EU-South Korea agreement was passed, European exports to South Korea rose by 16 percent. We are losing market share and American businesses are losing their competitive edge all as a result of Washington's inability to pass these essential agreements that supposedly have bipartisan support. In fact, since Canada signed their free trade agreement with Colombia, the U.S.…”