Political Quotes

“I thank the gentleman from Michigan for the nice words of introduction. Mr. Speaker, the U.S.-Panama Free Trade Agreement is an example of how to do a trade agreement right. This agreement will improve the U.S. trade surplus, emphasis on the word surplus, with Panama, and help with U.S. job creation and economic growth. And thanks to the FTA, Panama has brought its labor laws up to international standards and addressed Panama's status as a tax haven. Let's start with economics. In Massachusetts, which exported a total of over $8 billion worth of merchandise in 2010, the total number of jobs created in my district supported by exports is over 26,000. New exports help to support new jobs, and that's why I support the Panamanian free trade agreement. Panama is one of the fastest growing economies in Latin America. This FTA will eliminate tariffs and other barriers to U.S. exports, promote economic growth, and expand trade between our two countries. For example, most goods from Panama currently enter the U.S. duty- free, whereas U.S. exporters face import duties in Panama ranging from 5 to over 35 percent. This FTA will level the playing field by eliminating Panama's import duties on U.S. goods. As a result, U.S. passenger vehicle exports are expected to increase by 43 percent, and machinery exports are expected to increase by 14 percent. Furthermore, Panama is currently free to discriminate against U.S.…”