Congressman Wally Herger (R-CA), former Ranking Member of the Ways & Means Subcommittee on Trade, issued the following statement after President Obama signed into law the three trade agreements with Colombia, Panama, and South Korea:
"I am pleased that the President has signed the agreements with Colombia, Panama, and South Korea into law, opening a major opportunity for American small businesses and workers. By leveling the playing field for U.S. goods and services entering these three countries, the agreements will provide a significant boost to our economy and create an estimated 250,000 new jobs, including jobs both on and off the farm in Northern California. They are an example of bipartisan support for real, permanent economic stimulus at no cost to American taxpayers. I am glad these win-win agreements are finally set to take effect."
Background: The agreements will substantially reduce tariffs and non-tariff barriers that hold back U.S. products entering these markets, boosting U.S. exports by a projected $13 billion and creating an estimated 250,000 jobs. The free trade agreement with Korea will expand sales of California-grown fruits, vegetables and other crops. Likewise, the agreement with Colombia will open up new markets to California farmers and ranchers, including those producing livestock, fiber, oilseeds, vegetables, fruits and grains. California dairy farmers, leaders of the national dairy industry, stand to benefit significantly from the agreement with Panama