Boustany Emphasizes Importance Of Free Trade Agreements For La.
Washington, D.C. – U.S. Representative Charles W. Boustany, Jr., (R-Southwest Louisiana), today encouraged his colleagues to support the three outstanding Free Trade Agreements, citing their importance the overall economy and to Louisiana agriculture.
As a member of the House Ways and Means Committee, Boustany had the opportunity to question
key business leaders from across the country.
“The Columbia, Panama and South Korea Free Trade Agreements are necessary to get our economy back on track and create jobs,” Boustany said. “These agreements will create US jobs and open new markets for American goods and services. They will increase American competitiveness abroad and significantly lower many of the tariffs currently in place on US exports. We must pass these agreements as soon as possible. Several nations, including the European Union, have aggressively passed similar agreements that will put the US businesses at a disadvantage.”
In addition to creating good-paying American jobs, the trade agreements will significantly increase agriculture exports. According to the American Farm Bureau, the agreements will expand exports to Columbia by more than $690 million per year, to Panama by more than $195 million per year, and to South Korea by more than $1.8 billion per year. The agreements will establish duty-free quotas on many agricultural products from Louisiana, lowering tariffs on the exchange of goods from the state.
“With one in five jobs in Louisiana dependent on trade, it is essential that we enact these agreements,” Boustany said. “The impact these agreements will have on our farmers and agricultural producers in Louisiana will be significant. By increasing our access to foreign markets, farmers across our state will gain new market opportunities. Additionally, imports of raw materials from other countries will decline, making Louisiana manufacturers more competitive.”
Congressman Boustany sits on the tax writing House Ways and Means Committee, and is the subcommittee chair on Oversight. Boustany has worked tirelessly to expand Louisiana exports abroad and has championed the interests of Louisiana farmers in Washington.
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