U.S. Chamber Praises Senators’ Work to Advance Trade Agenda
Donohue Highlights Blunt, Portman’s Commitment to Job Creation
WASHINGTON, DC—The U.S. Chamber of Commerce praised Senators Roy Blunt, Rob Portman, and 10 other senators for their effort to untangle the impasse on the pending trade agreements with Korea, Colombia and Panama as well as Trade Adjustment Assistance (TAA).
“Roy Blunt, Rob Portman, and these other senators are showing real leadership on trade and a genuine commitment to the creation of American jobs,” said Thomas J. Donohue, president and CEO of the U.S. Chamber. “With our economic recovery stalling, we need to move now on these job-creating trade agreements.”
“In addition, the compromise on TAA is respectful of the difficult fiscal circumstances facing our country,” said Donohue, “and we believe it deserves support.”
"We urge all of the key stakeholders to announce a timetable for the consideration of the trade agenda in the very near future. By taking a timeout on trade, we’re creating jobs — in other countries,” said Donohue, noting the European Union-Korea Free Trade Agreement entered into force on July 1 and the Canada-Colombia FTA will do so on August 15. “While other nations clinch their own trade deals, American workers are left to compete with one hand tied behind their backs.
According to press reports, European exports to Korea rose 16% in the first 13 days after the Korea-EU FTA entered into force, with a 17% increase in the opposite direction. Four-fifths of Korean tariffs on European imports have already been eliminated. A U.S. Chamber study has warned that delays on the pending trade agreements have put 380,000 American jobs at risk.
The Chamber also supports renewal of the Andean Trade Preference Act and the Generalized System of Preferences.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
###