Members of the House Ways and Means committee, House Foreign Affairs Committee joined leaders from Caterpillar, Boeing and the American Farmers Bureau on Capitol Hill Wednesday to support the Obama backed bills that would eliminate American tariff and non-tariff barriors with Panama, South Korea and Colombia.
Caterpillar’s Washington Director Bill Lane said that America has a massive trade deficit in oil and manufacturing goods, yet has a manufacturing surplus with the 17 countries that it currently has free trade agreements with.
“If we want to fix the trade deficit, we need freer trade,” Lane said
American Farm Bureau Federation President and CEO Bob Stallman said agriculture will use these agreements to help issues regarding market access, competition and leveling the playing field between nations. The agreements he claims will lead to $2.5 billion in additional exports for agriculture stemming from fewer tarriffs and more market share. Stallman estimates the agreements could add up to 22,000 agriculture jobs.
House Rules Chairman David Dreier (R-Calif.) spoke out against the AFL-CIO members who rallied last week, insisting that the agreements would eliminate thousands of American jobs, further hurt America’s economy and will be a NAFTA-like failure.
Dreier said he was horrified that organized laborers would oppose a bill that would create 250,000 jobs and bring 97 million consumers and $2 trillion dollars of economic activity to union and non-union American workers.
All three agreements are expected to pass both the House and Senate Wednseday evening.