Lawmakers, Trade Groups Praise U.S.-Panama FTA Taking Effect

Lawmakers from the House Ways and Means and Senate Finance Committees lauded the Oct. 22 announcement of the U.S.-Panama Free Trade Agreement entering into force at the end of the month.

(See ITT's Online Archives 12102225 for summary of the FTA announcement.)

“Free trade agreements like the Panama FTA will give the U.S. economy a much-needed boost and create new jobs for American workers here at home,” Senator Finance Committee Chairman Max Baucus (D-Mont.) said in a press release. “Enhancing and expanding access to rapidly growing foreign markets like Panama is an opportunity for American workers, farmers, ranchers and businesses.” The release is (here).

Rep. Kevin Brady (R-Texas), chairman of the House Ways and Means Subcommittee on Trade, also voiced approval. "We can now begin to regain the market share for U.S. goods and services lost in Panama during the years this agreement sat on the shelf," he said. "While I am pleased that entry into force will occur soon, finally implementing an agreement that was completed over five years ago is merely treading water. Much more work needs to be done, such as prompt completion of the Trans-Pacific Partnership and exploration of new market access initiatives for U.S. goods and services abroad.” House Ways and Means Chairman Rep. Dave Camp (R-Mich.) also gave his support. The press release from Brady and Camp is (here).

Several trade associations also said the announcement was good news. A press release from the Business Roundtable is (here). A press release from the National Foreign Trade Council is (here). A press release from the Emergency Committee for American Trade is available (here).