Francisco Canseco: “I rise in strong support of the Panama free trade agreement. Like the Colombian agreement, this agreement has been…”

“I rise in strong support of the Panama free trade agreement. Like the Colombian agreement, this agreement has been pending for far too long. And I thank the leadership of Chairmen Brady, Dreier, and Camp. At a time when unemployment is hovering above 9 percent, the Panama free trade agreement will be a welcome shot in the arm to help the U.S. economy. The International Trade Commission's analysis shows that the Panama agreement will boost U.S. exports to Panama for key products between 9 percent and 145 percent. This will mean thousands of new jobs here at home. The Commerce Department has estimated that every $1 billion in exports creates 6,000 new jobs. This agreement will benefit all sectors of the American economy, from agricultural to financial services to manufacturing. It does so by leveling the playing field for American exporters who currently face tariffs of up to 260 percent while Panama exports face virtually no tariffs in the United States. The SPEAKER pro tempore. The time of the gentleman has expired.”