AMI Reiterates Support for FTAs in Advance of Senate Hearing on 2011 Trade Agenda
Wednesday, March 9, 2011
(American Meat Institute)
AMI yesterday reiterated its support for the
trade agreements with Korea,
in a letter to Sen. Max Baucus (D-MT), chairman
of the Senate Committee on Finance. The letter,
co-signed by more than 50 companies and
associations, was sent to Baucus in advance of
today’s hearing on the president’s 2011
“The three trade agreements combined
represent almost $3 billion of additional
agriculture exports to these trading
partners,” the letter stated. “These gains
can only be realized by implementation of these
three agreements. There is urgency to the need
for passage of the agreements. The United
is watching other countries implement their own
trade deals with these countries giving them a
competitive advantage while its sales and
market share decline.”
According to a recent impact study conducted
in part by AMI, the Korean, Colombian and
Panamanian FTAs would represent an additional
$2.3 billion in exports and the creation of
29,524 new jobs.
The data also reveal that passage of the
agreements could increase U.S.
exports of beef by $1.4 billion, pork by $772
million and poultry by $102 million. The jobs
resulting from this growth, both in the
commodity groups and downstream, would include
an estimated 18,000 jobs in the beef industry,
10,300 jobs in the pork industry and 1,200 jobs
in the poultry industry.
“These agreements contain significant
export gains for U.S.
agriculture that will only be realized by
passage and implementation. Conversely,
inaction has proven to result in loss of
market share and forfeiture of economic growth.
government’s inability to move these
agreements benefits of our foreign competitors
and harms U.S.
agriculture. We urge that Congress and the
administration support and quickly pass these
agreements to take full advantage of the
opportunity they provide for America’s
economic growth,” the letter concluded.
To view the letter in its entirety, click
For more information on today’s hearing,
click here: http://finance.senate.gov/hearings/hearing/?id=b3348fe0-5056-a032-52ab-fd736221edc9
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