John Cornyn: “I support the approval of free trade agreements for one simple reason: they create jobs across America. And they…”

“I support the approval of free trade agreements for one simple reason: they create jobs across America. And they especially create jobs in my home State of Texas. Last year, Texas companies exported lots of products to South Korea, Colombia, and Panama, including chemical and energy products, heavy machinery and electronics, cotton and grain crops, and many others. Unfortunately, all of these products faced trade barriers in these countries through foreign tariffs amounting to hundreds of millions of dollars. These free trade agreements will level the playing field in America's favor by eliminating foreign tariffs. Each of these trade agreements also strengthens a key strategic relationship for our country. And so I would like to say a word or two about each one. The Korea Free Trade Agreement is of strategic importance because it reminds the world that America is a Pacific nation, and that America will continue to deepen our relationships with our allies and not abandon East Asia to China or anybody else. The Korea Free Trade Agreement is the most significant on the table in terms of U.S. exports. South Korea is the most prosperous nation to sign a free trade agreement with the United States since Canada and Mexico in the 1994 NAFTA. Currently, Korean tariffs on U.S. products can be as high as 13 percent. The White House estimates that the Korean Free Trade Agreement will generate up to $11 billion in new U.S. exports and 70,000 U.S. jobs.…”