| A Bold Economic State-ment
Across the 50 states, trade with Peru, Colombia, and Panama is providing growth and generating high-paying jobs. Despite steep tariffs and non-tariff barriers, U.S. exporters to these markets have seen impressive gains in all three of these markets. U.S. exports to these partners rose tremendously from 2001-2006: exports to Peru and Colombia have increased a remarkable 86%, while exports to Panama grew by a whopping 103%!
Consider the following examples:
- An amazing 21 states have nearly doubled or even tripled their exports to these three countries. Leading the charge from 2002-2006 were: Nevada up 367% , New Mexico up 142%, and Montana up 130%. Also in this group are: Texas, Tennessee, Illinois, Kentucky, Wisconsin, Oregon, Alabama, Missouri, Iowa, Utah, Oklahoma, Arkansas, Alaska, Delaware, Arizona, North Dakota, South Dakota, and Hawaii.
- The elimination of all duties on key exports will fuel additional expansion. For example, in Peru significant tariffs on products such as processed foods (for which tariffs range from 12-20%), export crops such as corn (12%), and chemical manufactures (12%) will be immediately eliminated.
What states can expect--look at Chile:
- Prior to the U.S.-Chile FTA exports from Texas to Chile were decreasing; they fell 21% between 2001 and 2002. From 2003-2005, Texas exports to Chile rebounded; reaching an impressive 337%--from $500 million to over $1.5 billion in only three years! In Texas 91%, or 25,849, of the exporting companies in 2004 were small and medium enterprises (SMEs). These agreements will open export opportunities for SMEs by eliminating trade obstacles that primarily affect SMEs, such as non-tariff barriers, intellectual property provisions, openings in the service sector, and expanded access to government procurement contracts.
- Likewise, before the U.S.-Chile FTA, Florida's exports to Chile, from 2001-2002, had dropped 4%. After implementation, Florida saw a 158% increase in exports to Chile (from 2003-2006). As the nation's third largest agricultural exporter, Florida's fruit producers will benefit even more from the pending agreements by immediate duty-free access on fresh and dried grapefruit, Tahiti limes, and grapefruit juice. Oranges, lemons, and frozen concentrate juice will be duty-free in under five years!
To see how these agreements will create jobs and boost your state's economy, visit the following websites:
U.S. Department of Commerce State-Specific Fact Sheets
For Peru:
http://www.export.gov/fta/peru/StateExpData.asp?dName=Peru
For Colombia:
http://www.export.gov/fta/Colombia/StateExpData.asp?dName=Colombia
U.S. Department of Agriculture State-Specific Fact Sheets
For Peru:
http://www.fas.usda.gov/itp/us-Peru.asp
For Colombia:
http://www.fas.usda.gov/itp/us-Colombia.asp
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|  | |  | | Did you know?
| | | Thanks to the U.S.-Chile FTA, states such as Texas, Washington, New Jersey, California, Illinois, and many others saw ther exports to Chile nearly triple from 2003-2006! In fact, over that time period 46 of the 50 states saw their exports to Chile significantly increase.
-- Source: www.export.gov
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| | | | Overheard
| | | ''This agreement will allow us to move the American trade agenda forward. I believe it is a good and fair compromise that takes into account the concerns of all parties. I urge all Members of Congress who care about making sure our nation remains a leader on trade to support this agreement.''
-- House Ways and Means Ranking Member Jim McCrery (R-LA) on A New Trade Policy for America.
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