WASHINGTON, DC – U.S. Senator Pat Roberts today joined U.S. Senator Mike Johanns (R-NE) in introducing a resolution expressing that it is in the security, economic and diplomatic interests of the United States to immediately implement the Korea Free Trade Agreement, Colombia Trade Promotion Agreement and the Panama Trade Promotion Agreement.

“The statistics speak for themselves, because these trade agreements have been languishing in Congress, the United States is missing out on billions of dollars in exports and the creation of more than 27,000 new jobs,” Roberts said. “We need to act on these agreements to give our farmers and ranchers greater access to these markets, especially in this economy.”

The American Farm Bureau (AFB) estimates an increase of $1.8 billion in U.S. Agricultural trade per year after the U.S.-Korea Free trade Agreement is fully implemented. The AFB also estimates the U.S.-Colombia Trade Promotion Agreement would increase sales of agricultural products by $910 million a year.

For Kansas producers and manufacturers, the U.S.-Korea Free Trade Agreement provides immediate benefits by eliminating tariffs on U.S. transportation equipment, wheat, and feed grains while phasing out tariffs on high value Kansas beef products.

Implementation of the U.S.-Colombia Free Trade Agreement also provides immediate benefits to Kansas Ag producers by eliminating or phasing out tariffs on key beef products, wheat, and feed grains.

The U.S.-Panama Trade Promotion Agreement also eliminates or reduces import tariffs on important Kansas products and locks in key agreements confirming that U.S. meat inspections systems are equivalent, eliminating an emerging barrier to trade.

“Failure to act on these agreements reduces Kansas producers and manufacturers’ ability to compete with foreign counterparts,” Senator Roberts said. “For example, U.S. Wheat Associates recently estimated that failure to ratify the U.S.-Colombia FTA could lead to an annual loss of more than $100 million for the U.S. wheat industry at current export prices.”

According to the United States International Trade Commission, the U.S.-Korea Free Trade Agreement will:
? increase GDP from $10.1 billion to $11.9 billion;
? increase exports from $9.7 billion to $10.9 billion each year;
? create 20,000-24,000 new American jobs.

Again, according to the United States International Trade Commission the numbers are equally promising for the U.S.-Colombia Trade Promotion Agreement:
? U.S. exports will increase by an estimated $1.1 billion each year;
? will create 3,693 new American jobs.

The Panama Trade Promotion agreement will allow more than 60 percent of agricultural exports from the U.S. to enter Panama duty-free with the remaining tariffs on agricultural products phasing out after 10 years.

Senator Roberts is a senior member of the Senate Committee on Agriculture, Nutrition and Forestry and a member of the Senate Committee on Finance which has jurisdiction over trade agreements.

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