[Congressional Record (Bound Edition), Volume 157 (2011), Part 8]
[House]
[Page 11671]
[From the U.S. Government Publishing Office, www.gpo.gov]




                       PASS FREE TRADE AGREEMENTS

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Texas (Mr. Canseco) for 5 minutes.
  Mr. CANSECO. Mr. Speaker, if one were to ask the average American 
what their top three priorities for the Congress to work on would be, I 
think you would get the answer of jobs, jobs, and more jobs.
  That's the answer because the employment situation in America is not 
good. Over 14 million Americans are out of work. We have had 29 
straight months with the unemployment rate at 8 percent or higher and 
monthly jobs reports that show anemic job growth.
  Clearly, we need to turn our economy around so robust job creation 
can occur. The American people want and expect nothing less.
  Much of why our economy is not creating jobs is because of 
uncertainty in the economy that has been created by policies passed by 
Washington, like the government takeover of health care, the credit-
restricting financial regulation bill, and the out-of-control spending.
  We tried it the way desired by President Obama and Washington 
liberals, attempting to spend and borrow our way to a better economy. 
And their bills, all they did was add to the debt that is dragging the 
economy down.
  Worst though is that Washington is ignoring three very easy actions 
that, if taken, will immediately help our economy. There are three 
pending trade agreements with Colombia, Panama, and South Korea that 
will create jobs and are at no cost to the taxpayer.

                              {time}  1050

  Altogether, it's estimated by the Business Roundtable that these 
three agreements will create 250,000 jobs. How can we not pass these 
agreements that will create jobs and not cost the taxpayers?
  Today I want to talk about the benefits of the Panama Free Trade 
Agreement. In 2010, U.S. exports to Panama accounted for $6.1 billion, 
creating $5.7 billion in trade surpluses with Panama. The United States 
is Panama's largest trading partner. And once the agreement goes into 
effect, 88 percent of U.S. goods will enter Panama duty free.
  What are some of the products that we export to Panama that could 
benefit from this agreement? Well, our top exports to Panama now are 
aircraft, machinery, and agricultural products. In the 23rd District of 
Texas, which I have the privilege of representing in the United States 
House of Representatives, agriculture is an important source of 
economic activity. The Panama Free Trade Agreement will help 
agricultural products in my district and those districts across the 
United States. This agreement is helping level the playing field for 
American agricultural producers.
  In 2009, the U.S. exported $362 million in agricultural exports to 
Panama. Less than 40 percent of those exports received duty-free 
status, while more than 99 percent of Panama's agricultural exports to 
the United States received duty-free status. Upon implementation of the 
agreement, 56 percent of U.S. agricultural exports will enter Panama 
duty free, and the remaining tariffs will phase out within 15 years.
  While there are benefits to passing this agreement, there are also 
consequences for failing to pass it. American jobs are at stake as our 
competitors, notably Canada and the European Union, have their own 
trade deals with Panama. And once these deals are implemented, their 
exports will have an advantage over U.S. exports currently going into 
Panama. This will lead to a loss of market share for the United States 
exporters and a loss of jobs here at home.
  Mr. Speaker, we have the ability to create jobs without spending 
taxpayer money. With over 14 million Americans unemployed, we must stop 
waiting. It's time to pass the Panama Free Trade Agreement.

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