Congressman Don Manzullo (R-Egan) will vote later today for three trade agreements that will open up new markets for American manufacturers and farmers, increasing U.S. exports by $13 billion annually to South Korea, Colombia and Panama, and putting up to 250,000 Americans back to work.
I
Illinois’ export-intensive Rock River Valley region sells more than $3 billion worth of goods and services overseas each year, making the Rockford metropolitan area the most export-intensive region in Illinois. More than 16,000 jobs in the region rely on exports. These three trade agreements will allow northern Illinois manufacturers and farmers to sell even more of their products overseas, specifically:
- MCJ Eyecheck of Rockford would increase its exports to Korea of drug, alcohol, and medical testing devices by 90 percent and could add up to 35 jobs.
- Water Surplus of Loves Park would increase its chances by at least 30 percent of winning a multi-year, multi-million water project in Colombia.
- Wahl Clipper of Sterling would sell more of their products to Colombia once the U.S.-Colombia FTA offsets the price advantage given to their European competitor because of the E.U.-Colombia FTA.
- Chemtool of Rockton and Tracy Export of East Dubuque are current exporters to Korea and would be helped by the tariff-reducing trade deal.
- Aqua-Aerobic Systems of Rockford currently exports to Panama and would benefit form the U.S.-Panama FTA. The company is also looking into entering the Colombia market.
The Korean-US trade agreement will especially help exporters in northern Illinois. South Korea is the seventh largest market for U.S. exports – even more than what we sell to France – reaching a record high level of $39 billion in 2010. Korea buys the products made in northern Illinois – machinery, chemicals, electronics, transportation equipment, and agricultural products (such as corn, soybeans and processed food).
As Chairman of the House Foreign Affairs Subcommittee on Asia and the Pacific, Manzullo worked to improve the original agreement with South Korea to allow more exports of American cars and trucks to South Korea. Manzullo represents the Chrysler assembly plant in Belvidere that exports more than 40 percent of its vehicles, but very few are sold in South Korea. The modified agreement will knock down more barriers to U.S. auto exports and is now endorsed by the United Auto Workers union.
“In these difficult times, our employers must look for every opportunity to sell their goods and services, and these trade agreements with South Korea, Colombia, and Panama offer tremendous new markets for American products,” Manzullo said. “It’s all about jobs right now, and these trade agreements would help our employers expand their business and create up to 250,000 new jobs. If we can get Americans working again, we can solve a lot of problems plaguing our economy.”
To view a video of Manzullo speaking in support of the job-creating trade agreements, click here.
To view a copy of Manzullo’s American Jobs Agenda, click here
No comments:
Post a Comment