Last night, the House of Representatives and Senate voted overwhelmingly in favor of the free trade agreements with Colombia, Panama and South Korea. All three agreements passed on a bipartisan basis, with a strong show of support by Republicans.
“A free economy is a growing economy and last night Congress made an important step towards increasing our competitiveness, lowering prices for consumers, and adding jobs to our economy,” stated Grover Norquist, president of Americans for Tax Reform, “It’s unfortunate that Americans had to wait three years for the President to submit these agreements to Congress while unemployment rose above nine percent. It just goes to show that in this Administration, politics trump economics.”
The White House estimates that the three agreements combined will increase U.S. exports by over $13 billion. The South Korean agreement alone is estimated to create over 70,000 jobs nationwide. Passage of the free trade agreements with Colombia and Panama will open up new markets for U.S. manufacturing and agricultural products while providing consumers with lower priced products at home.