As the U.S. Waits, Other Countries Act on Trade

By September 23, 2009Trade

A nice summary by the National Center for Policy Analysis, “Trade Action — Or Inaction: The Cost for American Workers and Companies.” Excerpt:

The United States has completed negotiations of three free trade agreements (FTAs) that await Congressional approval of implementing legislation. The United States signed FTAs with Colombia on November 22, 2006, with Panama on June 28, 2007, and with Korea on June 30, 2007. Congress has not yet taken up any of these agreements.

Other major trading partners are also in the process of negotiating FTAs with Colombia and Korea:

  • Canada completed negotiation of an FTA with Colombia and submitted it on March 26, 2009, for approval by the Canadian House of Commons.
  • Canada completed negotiations of an FTA with Panama on August 11, 2009.
  • The European Union (EU) and Korea concluded negotiations on July 14, 2009, for a comprehensive FTA that is expected to be signed in late 2009 and implemented in 2010.

The European Union has held several negotiating rounds for a free trade agreement with Colombia that may also include Peru and Ecuador.

Meanwhile, “Colombia Accepts Canadian Beef Of All Ages.”

As for South Korea, the National Association of Manufacturers did submit a comment letter to the U.S. Trade Representative’s office expressing strong support for the U.S.-Korea FTA while noting that NAM member companies had raised serious objections to Korea’s non-tariff barriers and its handling of vehicles and automotive products.

Join the discussion One Comment

  • Karl says:

    I ask this in all seriousness. Why don’t we stop fooling around with these tiny trading countries and sign an agreement with China? Why not open markets completely and stop playing around pretending Columbia is the answer? A trade pact with anybody other than China and Europe seems like we are just spinning our wheels.

    Our trade deficit with China alone in 2008 was $268,039,800,000. 337 billion in imports and 69 billion in exports. Any other discussion about trade is moot. Cripes that’s a long number.

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