Hatch on Trade Pacts Being Signed into Law
WASHINGTON – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, issued the following statement today after President Barack Obama signed the U.S. trade agreements with Colombia, Panama, and South Korea into law:
“These three job-creating trade agreements send a strong signal that we are committed to tearing down barriers to trade and investment for American goods and services. But we can’t stop here. These three pacts with South Korea, Panama and Colombia complete a trade agenda that began under President Bush. We now must press ahead and negotiate additional agreements to open more markets for U.S. exports. That can only be accomplished by renewing Trade Promotion Authority. If the President moves forward with a bold new trade agenda, Republicans in Congress will be willing partners.”
According to the nonpartisan International Trade Commission, these three trade pacts will likely increase U.S. exports by over $12 billion and grow the U.S. economy by more than $14 billion. Furthermore, these trade agreements will collectively create more than 250,000 American jobs, according to the White House.