Roskam: How the free trade agreements will affect Illinois' economy

The office of Rep. Peter Roskam (R-IL), the House Chief Deputy Whip, explains how the pending free trade agreements will benefit his 6th congressional district constituents and the rest of Illinois.

LOCAL IMPACT ALERT:

How the Trade Agreements Will Affect Illinois' Economy

Next week, the House will vote on the long-stalled Colombia, Panama, and Korea Free Trade Agreements (FTA). These no-cost job-creating pacts will make it easier for American manufacturers to sell our products abroad and in turn create more jobs here. Note: If passed, these Agreements are expected to become law.

BY THE NUMBERS: What do these FTAs mean for Illinois? More American exports, more economic growth, more jobs

· Exports directly support 145,903 jobs in Illinois (60,137 of those in the 6^th District alone) in 650 companies – once the new FTA's become law more markets will open, incentivizing local companies to grow and hire. ( U.S. Chamber of Commerce, Accessed 10/6/11)

· Almost 25% of all manufacturing jobs in Illinois are dependent on exports. That is one in every four workers. ( U.S. Department of Commerce, Accessed 10/6/11)

· FTA’s will directly impact the engines of Illinois’ economy – small and medium businesses. These enterprises with less than 500 employees account for 15,170 of Illinois exporting firms, and generated over one-fifth of our state’s total merchandise exports in 2008. (U.S. Department of Commerce, Accessed 10/6/11)

· Last year, Illinois exported over $48.4 billion worth of goods – new trade agreements will open up new markets to increase the amount of goods sold. (U.S. Chamber of Commerce, Accessed 10/6/11)

· Illinois has benefited from trade agreements. For example, the U.S.-Chile agreement in 2004 grew Illinois' exports to Chile by 400%. (U.S. Department of Commerce, Accessed 10/6/11)

ILLINOIS COMPANIES SPEAK OUT: These Agreements Will Help Local Companies Grow and Create Private-Sector Jobs

Caterpillar CEO Doug Oberhelman:

Caterpillar plant, Peoria Heights

"Opening foreign markets is a fundamental competitive challenge for the United States to increase exports and generate more U.S. jobs…For Caterpillar, which exported more than $13.4 billion in goods from its U.S. manufacturing facilities last year, there is a tremendous opportunity to sell more mining trucks and scrapers made in Decatur, Illinois, and track-type tractors made in East Peoria, Illinois, to Panama as part of its canal expansion plan." ( Press Release, Caterpillar, 03/30/11)

Boeing CEO Jim McNerney:

Boeing HQ, Chicago

"I'd like to highlight just one of the recommendations that the Export Council has made: advancing stalled free-trade pacts. This is an area that offers substantial near-and long-term opportunities for economic growth and job creation… Free trade agreements often get drawn into the crossfire of political debate. But as many here already know, FTAs actually normalize trade relations and allow the U.S. to get into new markets, while our FTA partners tend, typically, to already have access to the U.S. market. FTAs also level the playing field with trade competitors from Europe and other places who already have agreements in place in markets where we do not. (" U.S. Competitiveness at a Crossroads," Speech to Atlantic Legal Foundation, 03/10/11)

Kraft Foods Statement:

"Kraft Foods applauds the breakthrough made by U.S. and Colombian negotiators to resolve outstanding concerns, paving the way for Congress to ratify the U.S.-Colombia Free Trade Agreement. Kraft Foods has long advocated open markets as keys to increasing trade, promoting economic growth and creating good jobs, in the United States and abroad.” (Press Release, Kraft Foods, 04/13/11)

Navistar CFO A.J.Cederoth:

"We're pleased to work with the administration and Congress to double American exports within five years and ensure the benefits of exporting American products, like the engines Navistar builds at our Melrose Park facility. An increase in American exports, powered by freer and fairer trade, is not only vital to our company, but our community and nation, as well." (Press Release, Rep. Quigley, 04/06/10)

BACKGROUND: Roskam Has Played a Leading Role in Building Support For These Agreements

Congressman Roskam visited South Korea in 2010 to help build support for the South Korea FTA, coinciding with President Obama's visit for the G20.

Roskam launched the U.S. Korea FTA Working Group, a bipartisan effort to build support for the Korea FTA.

Nearly two years ago in 2009, Roskam visited Panama with then-Minority Leader John Boehner to help build support for the Panama FTA – meeting with the Panamanian President and Vice President. Roskam urged Congress to pass the Panama FTA then, saying, "Panama is a close democratic ally and a prime potential American trade partner in a vital region."

In March 2008, Roskam visited Colombia to build support for the Colombia FTA – meeting with then-Colombian President Alvaro Uribe. According to the Chicago Tribune, who spoke with Roskam while in Colombia: "Roskam says it is a key ally in 'a region where we need friends' – and a potential boom export market for Illinois firms such as Caterpillar. 'This is a market of 44 million people,' he said. 'There are great export opportunities. This is a country that buys a tremendous amount of agricultural equipment.'”


Earlier this week, the House Ways & Means Committee passed all three FTA's out of committee. Roskam voted for all three in the Committee. He recently applauded the White House for sending the long-stalled agreements to Congress.

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