Guest Blogger: Rep. Doc Hastings (R-WA) on U.S. – Colombia Trade Promotion Agreement
Rep. Doc Hastings /
This past Sunday marked an important anniversary for the American economy. On November 22, 2006, the United States and Colombia signed the U.S.-Colombia Trade Promotion Agreement. This agreement would immediately eliminate tariffs on U.S. exports to this important trading partner – creating billions in revenue for U.S. businesses and new jobs here in America.
Unfortunately, it is an anniversary marked by missed opportunities. Instead of implementing this agreement when it was sent to Congress more than 18 months ago, Speaker Pelosi opted to block its consideration indefinitely.
Passage of this agreement is a matter of fairness. Since 1991, more than 90 percent of Colombian products have enjoyed open and duty-free access to American markets. At the same time, U.S. exports have faced steep tariffs and other barriers that put our farmers and manufacturers at a disadvantage.
With our unemployment rate at a 26-year high, we should be looking at every possible avenue to create jobs without continuing to add billions to the deficit. The Institute for International Economics estimates that implementation of this agreement would cause the value of U.S. exports to Colombia to increase by 44 percent. Passage of this agreement would provide an immediate economic boost to a wide range of businesses and create American jobs at a time when we need it the most.