Progress announced today in ratifying trade agreements with Korea, Panama and Colombia. These three trade agreements support American companies seeking export growth.
Read more in this news release by the U.S. Chamber of Commerce.
Looks like compromise is underway to soften ratification of three, vital Free Trade Agreements for the US. A tie-in that will preserve the Trade Adjustment Assistance (TAA) program to provide aid and retraining to workers who have lost their jobs due to outsourcing brought about by FTA activity.
Last month, the European Union ratified its FTA with South Korea. Even though the US lost its “first in, best dressed” place in line, once this and other two FTAs (Panama, Colombia) are enacted our nation’s brands and innovation will attract new customers through reduced and eliminated tariffs and quotas. Industry growth numbers will spike, jobs will be secured, and local and regional tax coffers will fill.