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[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 20 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
S. RES. 20

   Expressing the sense of the Senate that the United States should 
 immediately approve the United States-Korea Free Trade Agreement, the 
   United States-Colombia Trade Promotion Agreement, and the United 
                States-Panama Trade Promotion Agreement.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

             January 25 (legislative day, January 5), 2011

 Mr. Johanns (for himself, Mr. Grassley, Mrs. Hutchison, Mr. Roberts, 
Mr. Boozman, Mr. Cornyn, Mr. Portman, Mr. Inhofe, Mr. Enzi, Mr. Lugar, 
  Mr. Wicker, and Mr. Chambliss) submitted the following resolution; 
             which was referred to the Committee on Finance

_______________________________________________________________________

                               RESOLUTION

 
   Expressing the sense of the Senate that the United States should 
 immediately approve the United States-Korea Free Trade Agreement, the 
   United States-Colombia Trade Promotion Agreement, and the United 
                States-Panama Trade Promotion Agreement.

Whereas the United States has signed free trade agreements with South Korea, 
        Colombia, and Panama, but Congress has not approved those agreements;
Whereas, according to the United States International Trade Commission, the 
        gross domestic product of the United States will likely increase by 
        $10,100,000,000 to $11,900,000,000 as a result of increased access to 
        the market of South Korea under the provisions of the United States-
        Korea Free Trade Agreement;
Whereas, according to the United States International Trade Commission, 
        implementing the United States-Korea Free Trade Agreement will increase 
        exports from the United States by an estimated $9,700,000,000 to 
        $10,900,000,000 each year;
Whereas, according to the United States International Trade Commission, 
        implementing the United States-Korea Free Trade Agreement would create 
        20,000 to 24,000 jobs in the United States;
Whereas the implementation of the United States-Korea Free Trade Agreement will 
        ensure that agricultural products exported from the United States to 
        South Korea receive treatment equivalent to the treatment provided by 
        the United States to agricultural products exported from South Korea and 
        will significantly increase exports of agricultural products from the 
        United States to South Korea;
Whereas the American Farm Bureau estimates an increase of $1,800,000,000 in 
        United States agricultural trade per year after the United States-Korea 
        Free Trade Agreement is fully implemented;
Whereas increased trade will help to strengthen ties between the United States 
        and South Korea and advance important national security goals;
Whereas the United States and Colombia negotiated and signed the United States-
        Colombia Trade Promotion Agreement on November 22, 2006;
Whereas, according to the Office of the United States Trade Representative, 
        Colombia is currently the 27th largest trading partner of the United 
        States with respect to goods;
Whereas, according to the United States International Trade Commission, 
        implementation of the United States-Colombia Trade Promotion Agreement 
        will increase exports from the United States by an estimated 
        $1,100,000,000 each year;
Whereas, according to the United States International Trade Commission, 
        implementation of the United States-Colombia Trade Promotion Agreement 
        will create 3,693 jobs;
Whereas, in 2010, more than 90 percent of exports from Colombia to the United 
        States entered the United States duty-free under the Andean Trade 
        Preference Act (19 U.S.C. 3201 et seq.) and the Generalized System of 
        Preferences under title V of the Trade Act of 1974 (19 U.S.C. 2461 et 
        seq.);
Whereas, according to the United States International Trade Commission, goods 
        valued at $11,400,000,000 were exported from the United States to 
        Colombia in 2008, an increase from $3,600,000,000 in 2002;
Whereas, according to the Office of the United States Trade Representative, more 
        than 80 percent of consumer and industrial products exported from the 
        United States to Colombia will enter Colombia duty-free as soon as the 
        United States-Colombia Trade Promotion Agreement enters into force and 
        all remaining tariffs on such products will be eliminated within 10 
        years after the Agreement enters into force;
Whereas, according to the Office of the United States Trade Representative, the 
        primary exports from the United States to Colombia in 2008 were 
        $2,600,000,000 in machinery, $10,000,000,000 in mineral fuel, 
        $974,000,000 in organic chemicals, $969,000,000 in corn and wheat 
        cereals, and $950,000,000 in electrical machinery;
Whereas, according to the Office of the United States Trade Representative, 
        Colombia is the 15th largest market for farm products exported from the 
        United States, with the United States exporting almost $1,700,000,000 
        worth of farm products to Colombia in 2008;
Whereas, according to the Department of Agriculture, 99.9 percent of 
        agricultural products imported into the United States from Colombia 
        already enter the United States duty-free, but no agricultural products 
        exported from the United States to Colombia currently enter Colombia 
        duty-free;
Whereas, according to the American Farm Bureau Federation, the United States-
        Colombia Trade Promotion Agreement would increase sales of agricultural 
        products produced in the United States by $910,000,000 each year;
Whereas, according to the Department of Agriculture, more than half of 
        agricultural products exported from the United States to Colombia will 
        enter Colombia duty-free as soon as the United States-Colombia Trade 
        Promotion Agreement enters into force and all remaining tariffs on such 
        products will be phased out over time;
Whereas the United States and Panama, after 10 rounds of negotiations, signed 
        the United States-Panama Trade Promotion Agreement on December 16, 2006;
Whereas the United States values its long-standing bilateral relationship with 
        Panama;
Whereas the National Assembly of Panama ratified the United States-Panama Trade 
        Promotion Agreement by a vote of 58 to 4 on July 11, 2007;
Whereas 88 percent of United States commercial and industrial exports will enter 
        Panama duty-free immediately after the United States-Panama Trade 
        Promotion Agreement enters into force and all remaining tariffs on such 
        exports will be phased out over 10 years;
Whereas more than 60 percent of exports of agricultural products from the United 
        States will enter Panama duty-free immediately after the United States-
        Panama Trade Promotion Agreement enters into force and all remaining 
        tariffs on agricultural products will be phased out over 20 years;
Whereas, according to the United States International Trade Commission, the 
        primary effect of the implementation of the United States-Panama Trade 
        Promotion Agreement will be to increase exports from the United States 
        to Panama because 96 percent of imports from Panama already enter the 
        United States duty-free; and
Whereas concerns about Panama's alleged position as a ``tax haven'' have been 
        addressed with the November 30, 2010, signing of a United States-Panama 
        Tax Information Exchange Agreement, which permits the competent 
        authorities of the United States and Panama to request information on 
        most taxes to better increase transparency in an attempt to combat 
        illegal financial transactions, including those linked to drug smuggling 
        and money laundering: Now, therefore, be it
    Resolved, That--
            (1) the Senate recognizes that the implementation of the 
        United States-Korea Free Trade Agreement, the United States-
        Colombia Trade Promotion Agreement, and the United States-
        Panama Trade Promotion Agreement will--
                    (A) create jobs in the United States;
                    (B) increase export opportunities for businesses 
                and agricultural producers in the United States; and
                    (C) further develop cross-cultural business 
                relationships between the United States and South 
                Korea, Colombia, and Panama, respectively; and
            (2) it is the sense of the Senate that it is in the 
        security, economic, and diplomatic interests of the United 
        States to enhance relationships with South Korea, Colombia, and 
        Panama, respectively, by immediately approving the United 
        States-Korea Free Trade Agreement, the United States-Colombia 
        Trade Promotion Agreement, and the United States-Panama Trade 
        Promotion Agreement.
                                 <all>
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