Our inaction hurts American businesses, workers, and farmers, as they find themselves shut out of the many preferential trade and investment agreements negotiated by our trading partners. To cite just one example, while U.S. exports to Chile face an eight percent tariff, the Canada-Chile trade agreement will free Canadian imports of this duty. As a result, U.S. wheat and potato farmers are now losing market share in Chile to Canadian exports. In any discussion of future free trade agreements, we need to highlight the benefits of previous accords. That is real money for farmers, nurses, teachers, police officers, and office workers, not bonuses for corporate executives.
Trade barriers hurt families.
When trade is restricted, hard-working fathers and mothers pay the biggest portions of their paychecks for the higher cost food, clothing, and appliances imposed through taxes on trade. Increased trade supports good jobs. In Canada, employment grew 10 percent, and generated 1.3 million jobs. And in the United States, employment grew more than 7 percent, and generated about 13 million jobs. I recognize that these benefits of open trade can only be achieved if we build public support for trade at home.