Enzi Pushes for 3 Free Trade Agreements

Press Release

U.S. Senator Mike Enzi, R-Wyo., wants to help boost Wyoming's economy and American jobs by passing free trade agreements with Korea, Colombia and Panama.

Enzi is co-sponsoring a resolution pushing for the immediate implementation of the three agreements which would help open up markets for Wyoming beef and help create jobs across the country.

"Getting American products and services out into new foreign markets is a great step to help stimulate the economy and create jobs. We need to help our businesses, farmers and ranchers to compete and conduct business globally," Enzi said.

The free trade agreements would remove tariffs imposed on U.S. products exported to Korea, Colombia and Panama, including heavy machinery, automobiles and agricultural products. In many cases, products imported by the U.S. from these countries do not experience the same tariffs. Passing these free trade agreements would level the playing field by eliminating tariffs imposed on U.S. goods and services.

According to the U.S. International Trade Commission estimates, implementation of these agreements would increase new U.S. goods exports by $10.8 to $12 billion, reducing the U.S. trade deficit and boosting the economy. Additionally, 23,000-27,000 jobs are estimated to be gained as a result of the new U.S. goods exported to South Korea, Colombia and Panama. The U.S. could also experience an estimated $12.6-14.4 billion projected gross domestic product gain from net exports.

Senator Mike Johanns, R-Neb., introduced the resolution, S. Res. 20, on Jan. 25. The resolution has been referred to the Senate Finance Committee which has jurisdiction over trade related matters.

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