Sonora, CA — Mother Lode Congressional leaders Jeff Denham and Dan Lungren voted in favor of free trade agreements with South Korea, Columbia and Panama.
All three trade pacts were approved in the House and Senate this week and are expected to be signed by President Obama.
“Americans produce the best goods and services in the world and today we opened new markets for those goods to be sold,” says Lungren, a Republican from District 3. Our vote this afternoon will increase our global customer base, create jobs, level the playing field for U.S. businesses and provide an adrenaline boost to a sluggish economy.”
Republican Congressman Denham, who represents District 19, states, “These trade agreements are welcome legislation in the Valley where they will create thousands of jobs and promote local economic growth.”
Denham’s office says the state already exports $6 billion worth of goods to South Korea. The FTA will eliminate 95% of tariffs on U.S. exports over the next five years, and 65% of tariff’s placed on agricultural exports will end immediately. Denham feels that this will boost the regional economy.
(On a related note, Denham has written a new blog on water in the myMotherLode.com blog section.)