A bipartisan win on free-trade pacts
The vote in Congress Wednesday to approve stalled trade agreements with South Korea, Colombia and Panama was a victory for President Barack Obama and for congressional leaders of both parties.
But more importantly, it was a win for the U.S. economy and for millions of individuals and businesses that will benefit from increased foreign trade.
As Colorado’s 3rd Congressional District Rep. Scott Tipton noted, the agreements will benefit Colorado’s agricultural industry, among others.
The White House said the trade pacts will aid automakers, farmers, ranchers and manufacturers, along with many small businesses, that “will be able to compete and win in new markets.”
Additionally, in a concession for those who believe free trade does nothing but cost U.S. jobs, there is a provision in the agreements to provide aid to workers who lose jobs to foreign competition.
While some jobs have been lost as a result of free trade agreements, many more have been created as new markets for American goods are opened up.
Obama hopes to double U.S. exports by 2015, and he has worked hard to persuade Democrats to support the bill. He deserves credit for its passage, as do Republicans who kept pushing the measures.