Free Trade Fact of The Day
Conn Carroll /
Nothing would say “I Love You Mom” quite like … passing the Colombia Free Trade Agreement. The New York Times Nicholas Kristoff explains:
These days Colombia is the world’s second-largest exporter of flowers after the Netherlands, and almost 200,000 people work in the flower industry. Up to 28 cargo planes a day carry flowers from Colombia to the U.S.
Better carnations than cocaine, no?
Colombia is pushing hard for the pact not because of any immediate trade benefit but because its duty-free access to the U.S. must be regularly renewed. Businesses are reluctant to invest in flower farms or garment factories unless they know that they will be able to export to the U.S. for many years to come.