On the recordJuly 29, 2011
Mr. President, I want to remind my colleagues that this work period was supposed to be our opportunity to finally enact, after years of delay, the Free Trade Agreements with our allies South Korea, Colombia, and Panama. These agreements were signed over 4 years ago, and this administration has had more than 2\1/2\ years to submit them to Congress for consideration, but they have failed to do so. Unfortunately, we are going to have to continue to wait at least until September before we get a vote. Why does it matter that we pass these agreements? It matters for two reasons: first, because expanding trade opportunities creates American jobs; second, because we live in a competitive global economy and other nations are not standing still while we delay. Economists overwhelmingly agree that expanding trade opportunities creates jobs. The Obama White House, for example, estimates that enactment of these three trade agreements will boost exports by at least $12 billion, supporting over 70,000 American jobs. The fact that lowering barriers to U.S. exports will create jobs for American workers is common sense. Consider that our market is already largely open to foreign imports, including those from Korea, Colombia, and Panama. Without trade agreements to ensure similar treatment for our exporters, American businesses will continue to face high tariff and nontariff barriers abroad.…





