Michele Bachmann - Trade Policy
Summary
Congresswoman Bachmann supports free trade agreements stating that they help spur economic growth; improve efficiency and innovation; create better, higher-paying jobs for hard-working Americans; and increase the availability of lower-priced products here in the United States. She supports the completion of agreements with Panama, South Korea and Colombia.
The Foundry
In October of 2009, Congresswoman Bachmann wrote an op-ed in The Foundry. She noted her support for free trade agreements.
Each day in Minnesota and all across the nation, billions of dollars worth of products begin their journey to be sold overseas. American farmers, manufacturers, and businesses rely on exports to strengthen and grow both their bottom line, as well as our economy’s.
Free and fair trade agreements help spur economic growth; improve efficiency and innovation; create better, higher-paying jobs for hard-working Americans; and increase the availability of lower-priced products here in the United States.
Furthermore, the role of free trade as an expression of liberty and opportunity for all individuals signifies the very principles our country was founded upon. Yet, the free trade agreements with Panama, South Korea and Colombia negotiated under the Bush Administration remain little more than words on paper. Despite having been carefully negotiated over a period of two and half years, these agreements have become bogged down by partisan divides. In the meantime, with an average tariff of 53% imposed on U.S. agricultural products by South Korea last year, for example, there is little wonder the United States International Trade Commission estimates U.S. sales of agricultural products could increase by as much as $3.8 billion once the U.S.–South Korea agreement is fully implemented.
And while Congressional leaders seem content to leave these agreements on the back burner, America’s fragile industries are left hanging in the balance. The impact of depressed exports is fully evident to those who make their livelihood from them. In fact, Minnesota’s manufacturing exports experienced a 19% decline during the first quarter of 2009, mirroring a similar decrease nationwide. And our agricultural sector, especially our ailing pork and dairy producers, certainly needs no reminder of the importance of expanded export channels to the survival of their farms.
Unfortunately, the closest we get to good news on trade these days is that the trade deficit, which reached $840 billion last year, may at least be plateau-ing. However, while the deficit seems to have steadied, at least temporarily, it is more the result of a sharper reduction in imports than of a steep rise in exports. Regardless, as one economist recently summarized, “the trade picture from the United States is cloudy right now.”
Sponsored and Cosponsored Legislation
Opposition to the NAFTA Superhighway - Cosponsor
Expressing the sense of Congress that the United States should not engage in the construction of a North American Free Trade Agreement (NAFTA) Superhighway System or enter into a North American Union with Mexico and Canada.