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Coalition Letter on Mock Markups for FTAs

Coalition Letter on Mock Markups for FTAs

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Published by: National Association of Manufacturers (NAM) on Jul 07, 2011
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July 6, 2011The Honorable Max BaucusChairmanCommittee on FinanceUnited States SenateWashington, D.C. 20510The Honorable Orrin HatchRanking MemberCommittee on FinanceUnited States SenateWashington, D.C. 20510The Honorable Dave CampChairmanCommittee on Ways and MeansUnited States House of RepresentativesWashington D.C. 20515The Honorable Sander LevinRanking MemberCommittee on Ways and MeansUnited States House of RepresentativesWashington D.C. 20515Dear Chairmen Baucus and Camp and Ranking Members Hatch and Levin:The undersigned organizations urge you to support the implementing bills for the tradeagreements with South Korea, Colombia, and Panama as the Senate Committee on Finance andHouse Committee on Ways and Means hold “mock” markup hearings. We applaud the work of your Committees for taking these next steps toward approval of these vital agreements, and wehope they will be considered and approved by the full House and Senate as expeditiously aspossible.These trade agreements would create tens of thousands of jobs for American workers andfarmers — and benefit businesses both large and small — all across the nation. They would levelthe playing field for American exporters, thereby creating real business opportunities for U.S.businesses and their employees. For example, South Korea currently collects $4 in tariffs on U.S.exports for every $1 the United States collects in tariffs on South Korean exports. U.S.businesses confront similar or higher trade barriers in Colombia and Panama.The agreements would sweep away most of these tariffs and other trade barriersimmediately upon implementation. The accords will also open these countries’ services markets,protect the intellectual property of American innovators and creative artists, and remove non-tariff barriers that can stifle international commerce.For far too long, the United States has sat on the sidelines while other nations haveclinched their own trade deals with South Korea, Colombia, and Panama, threatening to putAmerican workers and businesses large and small at a competitive disadvantage. On July 1, theEuropean Union-Korea Free Trade Agreement entered into force, and the Canada-Colombia FreeTrade Agreement will do so on August 15. U.S. farmers and ranchers, for example, have alreadylost more than $1 billion in sales to Colombia due to delays in approval of the agreement withthat country.In addition, South Korea, Colombia, and Panama are among America’s most importantallies on the world stage. These nations are robust democracies whose citizens share U.S. valuesand have long stood by us in strategic regions. Enhancing trade ties with these nationsstrengthens those alliances and advances the U.S. national interest beyond the creation of needed jobs and export sales.

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