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What’s the hold up?

Enzi seeks answers on three free trade agreements in limbo

June 1, 2010

Washington, D.C. – U.S. Senator Mike Enzi, R-Wyo., reached out to President Obama today seeking movement on a sure fire way to stimulate America’s economy - finalizing free trade agreements with Korea, Colombia and Panama.
 
“In a time of diminished prosperity, it is in the United States’ best interest to stimulate our economy by opening new foreign markets to our nation’s products and services, creating countless jobs,” a June 1 letter to President Obama stated.
 
The previous Administration started the negotiations for free trade agreements with Korea, Columbia and Panama. Those treaties have seen no substantial progress and Enzi and 15 other senators are urging the Administration to clearly state any outstanding issues that must be resolved and a clear time line for enactment.
 
Free trade with Korea would facilitate growth in the American economy by up to $11.9 billion, according to the United States International Trade Commission. U.S. exports of goods to Korea would grow by $9.7 to $10.0 billion, mainly in areas of agricultural products, machinery, electronics and transportation equipment. The Korean agreement helps open markets for Wyoming beef producers by eliminating the 40 percent tariff imposed on prime cuts of U.S. beef over a 15-year period.  Free trade with Colombia could increase our nation’s gross domestic product by $2.5 billion.

Click on the link below to read the letter.