“The NFTC and our member companies applaud the signing of the FTAs and TAA/GSP legislation. All four trade bills are essential to growing the U.S. economy, American jobs and the competitiveness of our exporters, be they farmers, small- and medium-sized businesses or large American companies with worldwide operations.

“We applaud the Administration and Congress for working together over the past several months — and if we go back to the signing of the FTAs, years — to make today a reality.

“The benefits of the FTAs can only begin to flow when each enters into force, and so we call on key players in both the U.S. government and the governments of our FTA partner nations to work together to ensure swift implementation.”

Washington DC – The National Foreign Trade Council (NFTC) today applauded Congress and the Administration for working together to approve the free trade agreements (FTAs) with Colombia, Panama and South Korea, and to renew Trade Adjustment Assistance (TAA), the Generalized System of Preferences (GSP) and the Andean Trade Preference Act (ATPA). The NFTC released the following statement.

“We are very pleased with the outcome of today’s votes, and applaud Congress and the Administration for working together to advance the U.S. trade agenda through approval of the FTAs with Colombia, Panama and South Korea, as well as the renewal of TAA, GSP and the Andean trade preferences. These agreements and programs will boost the U.S. economy and create and support thousands of American jobs,” said NFTC President Bill Reinsch. “We urge Congress and the Administration to work together with the Colombian, Panamanian and South Korean governments to ensure that each agreement is implemented as soon as possible.”

“Today’s votes — which should indeed be celebrated after the more than four-year journey from the signing of the FTAs to approval — are just the first step toward ensuring that U.S. companies, farmers and workers have an opportunity to regain lost market share, increase their competitiveness and strengthen longstanding commercial ties with each FTA partner. Swift implementation is critical to realizing the benefits of each agreement. Nations around the world will not let up in efforts to seal and implement deals with these three trade partners, and the United States cannot afford to either,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich.

“It is also our hope that today’s outcome is just the beginning of an effort to further open markets for U.S. goods and services. With the FTAs approved, we now must keep the momentum going with an eye toward advancing the Trans-Pacific Partnership negotiations and the Trade and Investment Partnership Initiative for the Middle East and North Africa, and developing a strategy to get meaningful world trade talks back on track,” said Reinsch.

“With all three agreements inked more than four years ago, we welcome the Administration’s submission of the trade agreements to Congress for approval,” said NFTC President Bill Reinsch. “These agreements are critical to boosting the U.S. economy, creating and supporting jobs, and the President’s submission today signals the Administration’s commitment to seeing them all approved. The NFTC urges Congress to approve these agreements as soon as possible in the next couple of weeks as means to stimulate the U.S. economy, increase exports and create more American jobs.”

“With other countries, like Canada, the European Union and others, entering into trade agreements with these countries, the United States is losing critical market share. It’s time to turn that situation around,” said NFTC Vice President for Regional Trade Issues Chuck Dittrich. “Today’s announcement brings us one step closer to ensuring that the U.S. remains competitive and maintains market share in these growing, dynamic economies.”

“Great progress has been made on the U.S. trade agenda in recent weeks. We encourage Congress to keep up the momentum and pass the FTAs and renew the Trade Adjustment Assistance program, the Generalized System of Preferences and the Andean trade preferences without further delay,” Reinsch concluded.

About the NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
Follow us on:

“We applaud the Senate leadership and trade champions on both sides of the aisle for working together to make today’s vote a success – helping to clear the way for submission and approval of the free trade agreements (FTAs) with Colombia, Panama and South Korea. The NFTC has long supported the TAA and GSP programs, as both are critical elements of not only the U.S. trade agenda, but also efforts to create and support American jobs.

“We are encouraged by this vote and hope that the spirit of bipartisanship and commitment to shoring up the U.S. economy and creating jobs through trade legislation, will continue following the recess. It is our expectation that in early October, additional progress will be made on the trade front, including through the Administration’s submission of the FTAs and votes in the House on TAA and the lapsed preference programs. Our economy, exporters and workers cannot afford further delay.”
 

“The next few weeks will be critical on the trade front, and it is good to see that the ball is finally rolling. The NFTC strongly urges Congress and the Administration to stay on course and continue working together in a bipartisan manner to renew faith with American workers and our trading partners around the globe.”