"In January of 2001, America had trade agreements
in force with three countries. Now we have agreements in
force with 14 countries, including seven in Latin America.
And Congress now has an opportunity to increase America's
access to markets in our hemisphere by passing three more
free trade agreements in Latin America with Peru, Colombia,
and Panama," Bush stated in his weekly radio address to
the nation, October 13, 2007.
Following is a transcript of president Bush's
remarks:
(begin transcript)
THE WHITE HOUSE
Office of the Press Secretary
(Miami, Florida)
Saturday, October 13, 2007
RADIO ADDRESS BY THE PRESIDENT
TO THE NATION
AUDIO
THE PRESIDENT: Good morning. This is an
historic time for our Nation's economy. Last week, we learned
that September was America's 49th consecutive month of job
creation -- the longest uninterrupted period of job growth
on record. And on Thursday, we learned that the American
economy set a new record for exports in a single month.
Millions of American jobs depend on exports. More exports
support better and higher-paying jobs -- and to keep our
economy expanding, we need to keep expanding trade.
This week, I traveled to Miami to discuss
the importance of trade and to call on Congress to pass
new free trade agreements. In January of 2001, America had
trade agreements in force with three countries. Now we have
agreements in force with 14 countries, including seven in
Latin America. And Congress now has an opportunity to increase
America's access to markets in our hemisphere by passing
three more free trade agreements in Latin America with Peru,
Colombia, and Panama.
These three agreements will expand America's
access to 75 million customers. These 75 million customers
are the equivalent of the populations of California, Colorado,
Ohio, Michigan, Tennessee, and Massachusetts combined.
The first of the new Latin American trade
agreements that my Administration negotiated is with Peru.
This agreement would level the playing field for American
businesses and workers and farmers. While almost all Peruvian
exports to the United States now enter duty-free, most American
exports to Peru face significant tariffs. The free trade
agreement would immediately eliminate most of Peru's industrial
tariffs, as well as many of its barriers to U.S. agriculture
exports, and make American products more affordable and
more competitive in that country.
The second of the new Latin American trade
agreements that my Administration negotiated is with Colombia.
Colombia is now our fifth largest trading partner in Latin
America and the largest market for U.S. agricultural exports
in South America. The free trade agreement with Colombia
would immediately eliminate tariffs on more than 80 percent
of American industrial and consumer exports. It would provide
significant new duty-free access for American crops. And
for the first time in history, U.S. companies would be able
to compete on a level playing field.
The third of the new Latin American trade
agreements that my Administration negotiated is with Panama.
This agreement will immediately eliminate tariffs on 88
percent of our industrial and consumer goods exports to
Panama. It will increase access for American farmers and
ranchers. And it will open opportunities for American businesses
to participate in the multi-billion dollar project to expand
the Panama Canal.
As we work to pass these trade agreements
with nations in Latin America, we'll also work to pass a
landmark free trade agreement with an ally in the Far East
-- South Korea. This agreement would open up one of the
world's most powerful economies to more American goods and
services exports. This agreement is projected to add more
than $10 billion to America's economy. And like our agreements
in Latin America, this agreement would strengthen our relationship
with a democratic partner in a critical part of the world.
I know many Americans feel uneasy about
new competition and worry that trade will cost jobs. So
the Federal government is providing substantial funding
for trade adjustment assistance that helps Americans make
the transition from one job to the next. We are working
to improve Federal job-training programs. And we are providing
strong support for America's community colleges, where people
of any age can go to learn new skills for a better, high-paying
career.
Expanding trade will help our economy grow.
By passing these trade agreements, we will also serve America's
security and moral interests. We will strengthen our ties
with our friends. We will help counter the false populism
promoted by hostile nations. And we will help young democracies
show their people that freedom, openness, and the rule of
law are the surest path to a better life. So I call on Congress
to act quickly and get these agreements to my desk.
Thank you for listening.
(end transcript)
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