Smith Pushes U.S.-Colombia Trade Agreement

March 17, 2011: WASHINGTON, DC- Congressman Adrian Smith (R-NE) today participated in a hearing about the pending trade agreement with Colombia. It was the first hearing held regarding the U.S.-Colombia agreement held by the Subcommittee on Trade of the Ways and Means Committee. "With each day we delay signing the agreement with Colombia, Nebraska's farmers and ranchers lose opportunities to international competitors. The time to act on this agreement is now," Smith said following the hearing. "Opening new markets, particularly those growing as rapidly as Colombia, is the best way to create American jobs and boost economic growth." The U.S.-Colombia agreement would eliminate or substantially lower tariffs on exports to Colombia, particularly agricultural products. The American Farm Bureau estimates U.S. farm exports to Colombia could increase by more than $690 million annually with the passage of this agreement. Historically, Colombia was the largest export market in Latin America for U.S. agricultural products. It has now fallen to second because of sharp loss of market share following Colombia’s trade agreement with Argentina. Smith serves on the Committee on Ways and Means, which has jurisdiction over pending trade agreements. The Committee on Ways and Means continues to press for the agreements with Colombia, Panama, and South Korea to be considered by July 1, 2011.