    [Weekly Compilation of Presidential Documents Volume 43, Number 42 (Monday, October 22, 2007)]
    [Pages 1333-1334]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    The President's Radio Address

    October 13, 2007

        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 7 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.

    [[Page 1334]]

        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 multibillion 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.

    Note: The address was recorded at 7:50 a.m. on October 12 in the Cabinet
    Room at the White House for broadcast at 10:06 a.m. on October 13. The
    transcript was made available by the Office of the Press Secretary on
    October 12 but was embargoed for release until the broadcast. The Office
    of the Press Secretary also released a Spanish language transcript of
    this address.