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United States-Korea Free Trade Agreement Implementation Act

Floor Speech

Date: Oct. 11, 2011
Location: Washington, DC
Issues: Foreign Affairs Trade

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Mr. LEVIN. Mr. Speaker, I yield myself 3 1/2 minutes, but I may use only 2 1/2 .

First I want to emphasize each of these agreements should be on their own merit. Trade is so polarized, it's easy to lump things all together. We won't carve out a new trade policy if that's the way we proceed.

Secondly, there's been reference to NAFTA. This is really kind of an anti-NAFTA agreement. The labor standards are the new standards that we put into Peru and are incorporated here. The reference to job loss and EPI, it bases its assumption that what happened after NAFTA in terms of trade will happen as well with Korea. They are very different situations. And that's why many suggestions are that there will be major increases in jobs.

Thirdly, there's been reference to this as the George Bush FTA. No, this is the FTA renegotiated by the Obama administration. And why was it renegotiated? To open up the markets of Korea, to change one-way trade to two-way trade. That's jobs. And that's exactly what this agreement does. Tomorrow we will outline how it does it. In all respects, it will make sure that the Korean market at long last is open to American automotive products, which is the major source of our trade deficit. That's why the automotive companies issued this statement: ``As representatives of the largest exporting sector, this FTA will help open an important auto market for Chrysler, Ford, and GM exports. Our companies make the best cars and trucks on the road, and we are excited for the export opportunity this agreement represents.'' That's why it's supported by the UAW. It will open up markets. That's why Ford sat down today to describe how they're going to penetrate the market of Korea. They're determined to do that, as the other companies are. So this is a market-opening provision at long last, in that sense a major change from the Bush-negotiated agreement. I strongly urge support for the Korea FTA.

I reserve the balance of my time.

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