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Nearly $153 million per year in Northeast agriculture exports are being left on the table as Congress sits idly by.
The United States’ ability to trade openly in the world marketplace is in jeopardy because of three trade agreements with Korea, Colombia and Panama that have been stalled in Congress for several years.
Of great importance to the Northeast State Farm Bureau members in New York, New Jersey, Pennsylvania, Delaware, Maryland, Massachusetts, Vermont, New Hampshire, Connecticut, Rhode Island and Maine is that Congress passes these agreements by the end of summer to give our economy the kick it needs.
Agricultural trade is not only critical to farmers and ranchers, it is important for the U.S. economy and the creation of American jobs.
By not passing these three agreements, the U.S. could lose additional exports worth nearly $2.5 billion per year in agriculture exports that are critical to the Northeast region of the country.
Additionally, 1,375 U.S. jobs including those of transportation workers, food processors, packers, longshoremen and even sales and marketing professionals.
Passing these trade agreements also means leveling the playing field. Currently, U.S. products going into these countries face exorbitant tariffs just to get into these markets.
Yet, while we pay tariffs of up to 160 percent to sell to the Colombia and Panama markets, they receive duty-free access to the U.S. market for their goods. In Korea, tariffs of up to 500 percent are placed on U.S. goods.
Passing these trade agreements would immediately eliminate most of these tariffs.
Further, each day that goes by without passing the agreements provides more opportunity for other countries to negotiate their own deals.
For example, while we urge the administration and Congress to expedite passage of these trade deals, the European Union is moving forward with its own Korea agreement, hoping it can beat us to the punch.
Australia, Chile and Canada are also moving in and taking potential U.S. market share in the three countries.
As a result of a free trade agreement between Brazil, Argentina, and Colombia our market share in Colombia has plummeted from 46 percent to 24 percent in the past three years.
In Korea, the market share for Chilean wine has increased from 2.4 percent to 21.7 percent as a result of their free trade agreement, while ours has decreased from 17.1 percent to 9.8 percent.
Panama has already completed an agreement with Canada which includes beef, potato products and processed foods, while the U.S. is left out in the cold.
Congress has begun moving forward on these free trade agreements, but until they are approved our role as a major trading partner diminishes, as well as opportunity for U.S. job creation.
That’s why it’s critical we urge Congress to pass the Korea, Colombia and Panama trade agreements today because they will greatly benefit Northeast farmers, consumers and workers.
Presidents of the farm bureaus in
New York, New Jersey, Pennsylvania, Delaware, Maryland, Massachusetts,
Vermont, New Hampshire, Connecticut, Rhode Island and Maine
Opinion
Action is needed on trade agreements
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