International Trade

I have been a strong proponent of expanding trade opportunities for American businesses and the workers they employ.  We must continue to develop cutting edge jobs that are only available in a global economy.

This is not some dry, theoretical debate for our State of New Jersey.  Our businesses, large and small, and their workers, have a great deal riding on these agreements.  While trade is often depicted as "exporting jobs," the fact remains that 130,500 jobs in New Jersey depend on trade and of these, 50,500 are manufacturing jobs!

On November 12, 2011, the House passed Free Trade Agreements (FTAs) between the U.S. and the nations of South Korea, Colombia, and Panama, which had been originally negotiated over four years ago!

Over that period of time, I was a vocal advocate for these agreements to be submitted to Congress for final ratification. Early in this Congress, I introduced H.Res. 86, stating the sense of the House of Representatives that all three FTAs should be finalized.

Studies predict that these agreements will create 250,000 jobs and increase our nation’s economic output, or Gross Domestic Product, by $11 billion!

President Obama finally sent the enacting legislation for each agreement (H.R. 3078, H.R. 3079, and H.R. 3090) to Congress on October 3 of this year and each bill was passed with bipartisan support. President Obama signed all three FTAs into law on October 21.

These agreements will allow for New Jersey companies and others across the nation to export more of their domestically produced goods and services. Particular industries in our area that are anticipating significant increases due to these agreements include chemical manufacturing, pharmaceuticals, aircraft production, produce, and financial services, just to name a few.

Click here to view my statement on the House floor in support of the Free Trade Agreements.

Now Congress must work to further open foreign markets for expanded trade!