News & Insights

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.