July 13, 2011

GOOLSBEE LIED, TRADE DIED:

Pass free-trade agreements to create U.S. jobs: Every day Congress does nothing, American workers and businesses lose (Gary Shapiro, 7/12/11, The Washington Times)

The simple truth is that while the United States dithers, the rest of the world is breaking down trade barriers. On July 1, a trade agreement between the European Union and Korea went into effect, immediately disadvantaging American companies. Likewise, Canada and Colombia are expected to soon implement their trade agreement and the EU is moving ahead on a deal with Colombia as well. In fact, Colombia and EU officials met in June to discuss their pending FTA agreement, which could be finalized by next year.

This is the price of inaction. U.S. companies lose out to foreign competitors in emerging and vital international markets. Especially for the innovation industry I represent, the United States needs more free-trade agreements to restore their ability to sell products overseas without encountering high tariffs. U.S. companies have paid more than $3.5 billion in duties to the Colombian government because of the stalled free-trade agreement.

Just as important, passing these free-trade agreements would send a message to struggling American businesses that Washington is finally getting serious about job creation. For an administration that has kowtowed to the Big Labor line on everything from collective-bargaining rights to silly “buy American” provisions that do nothing except damage our ability to compete worldwide, turning these FTAs into a reality would go a long way toward restoring investor confidence.

The time is now. The votes are there to finally pass the long-overdue free-trade agreements with Colombia, Panama and South Korea.


Passing these deals along with the entitlement and tax reforms they're banging out would would be excellent steps. Add immigration "reform" and you've got a trifecta.


Posted by at July 13, 2011 6:10 AM
  

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