the necessity of passing H.R. 3005, a bill to renew trade promotion authority, is epitomized by the experience of Caterpillar, headquartered in my home State of Illinois. Caterpillar's motor graders made for export to Chile face nearly $15,000 in tariffs. Caterpillar motor graders manufactured in Brazil for export to Chile face a tariff of only $3,700. And when Caterpillar's competitors produced the same product in Canada, it can be exported to Chile free of tariffs because of the Canada-Chile free trade agreement. Caterpillar employees in Illinois are forced to watch as workers in other countries provide products to our neighbors. Mr. Speaker, while other countries are making preferential trade deals, we are sitting on the sidelines lacking the authority to negotiate. Make no mistake, our foreign competitors have this authority, and they use it to their advantage. Of the more than 130 free trade agreements in force today, the U.S. is party to only three. Trade works for America. Let us pass H.R. 3005 and keep America's economy growing.
Editor's note · Context
Discussing the importance of renewing trade promotion authority and its impact on U.S. competitiveness.
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