Manufacturers Urge Swift Passage of FTAs for Job Creation07/07/11 - National Association of Manufacturers (NAM) Vice President for International Economic Affairs Frank Vargo issued the following statement today on the House and Senate markups of the Colombia, Korea and Panama free trade agreements (FTAs):
“Manufacturers are pleased that both the House and Senate are taking steps today toward passing these three important trade agreements that will boost our recovery and create new jobs. Manufacturers lose to overseas competitors each day that the U.S. is not party to agreements that open new markets.
The U.S. currently has a manufactured goods trade surplus with our FTA partners, and the data show that number is growing with each passing month. Unfortunately, agreements with Colombia, Korea and Panama have languished for nearly four years. Now is the time to act. Manufacturers urge Congress and the Administration to work together toward resolving differences impeding the swift passage of all three agreements before we reach the point at which we cannot recover our lost market share.”