Congressional ratification of three bilateral free-trade agreements between the United States and Korea, Colombia and Panama, as well as approval of Trade Adjustment Assistance, is welcome news for farmers and ranchers, according to the American Farm Bureau Federation.
“Now that Congress has approved all the components of the trade package, swift implementation is critical, so we can restore a level playing field for U.S. farm exports to these three nations,” said AFBF President Bob Stallman.
“Over the past four years, Korea, Colombia and Panama have opened their doors to our competitors,” Stallman explained. “Congress and the administration have now given us the opportunity to improve our competitive position in these markets. The economic growth generated from the agreements will improve our economy and create jobs here at home,” he said.
Combined, the three FTAs represent nearly $2.5 billion in new agriculture exports for America’s farmers and are expected to create economic growth that could generate support for up to 22,500 U.S. jobs.