At its March meeting, the Board of Directors for the Aurora Regional Chamber of Commerce took action to urge our elected leaders to make trade expansion a part of America’s economic recovery by approving the pending trade agreements with South Korea, Colombia, and Panama. Support for these job-creating, budget-neutral trade agreements is critical to America’s workers, farmers, and companies.
Member businesses and their employees are encouraged to contact their elected officials in Washington to encourage their support of the agreements.
According to the United States Chamber of Commerce, the pending agreements will create tens of thousands of good American jobs and billions of dollars in new exports within a few short years. They will bolster important allies and confirm that America is not ready to cede its global leadership role in trade.
Fundamentally, these agreements are about making trade fair. The U.S. market is largely open to imports from around the world, but other countries continue to slap steep tariffs on our exports. These agreements will create a level playing field for American workers and farmers by eliminating the barriers U.S. exporters face in these three markets.
The agreements are particularly important for America’s small and mid-sized companies. More than 250,000 U.S. companies are exporters, and 97% of them are small and medium-sized businesses. Together, they generate nearly one-third of all U.S. merchandise exports. These agreements are especially important for these smaller businesses, which are often shut out of foreign markets by high tariffs and other barriers.
Other nations are racing to complete their own trade deals with South Korea, Colombia, and Panama and create jobs on their own shores. The EU, Canada, and others are signing their own trade agreements with these countries, threatening to put American workers at a competitive disadvantage. A U.S. Chamber study has warned that the United States will lose more than 380,000 jobs and $40 billion in export sales if we delay further.
Now it the time to sharpen America’s competitive advantages in the global marketplace by opening growing markets abroad. We urge you to lend your support for approval of the pending trade agreements with South Korea, Colombia, and Panama.
For more on the free trade agreements, visit the U.S. Chamber’s website at http://www.uschamber.com/trade.
A list of our local Federal elected officials can be found on the Chamber’s website at http://www.aurorachamber.com/community_officials.asp or you can visit http://www.house.gov/ and enter your ZIP code and address to locate your elected congressman.