Back in October Congress passed the three free trade agreements with Colombia, Panama and South Korea. Manufacturers have been anticipating and eagerly awaiting passage of the agreements so they can begin to have a level playing field in these important markets.
Today, we are already starting to see the benefits. Toyota has announced they will begin exporting Camrys to South Korea in January. The cars are manufactured at their 7,000 employee assembly plant in Georgetown, Kentucky. The company expects to ship about 6,000 Camrys to South Korea at an annual rate.
This is just the beginning of the benefits manufacturers will see from the trade agreements which equates to more jobs here in the U.S. Manufacturers will continue to call for additional trade agreements to be negotiated and implemented to help increase exports. Right now dozens of free trade agreements are being negotiated throughout the world and our nation is party to only one, it’s time for that to change.
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