Next Order of Business: Pass Trade Agreements

Several times since taking office President Obama announced he will pivot his focus to job creation. The reality is creating jobs and spurring economic growth always should be the top priorities for the White House and Congress. The July job statistics from the Department of Labor found only 117,000 jobs were added last month - far short of the 250,000 many economists say are needed to propel the economy forward.

In the midst of the debate about raising the debt ceiling, the President announced he would delay sending the trade agreements with Colombia, Panama, and South Korea to Congress until after August. Rather than press forward to get approval for these agreements, the White House decided to hold them hostage.

Unfortunately, farmers, ranchers, manufacturers, and small businesses will continue losing opportunities because of this needless delay. The longer we wait to approve the agreements, the more market share we lose to international competitions and the more hard-working Americans are punished.

For example, the European Union and South Korea recently implemented a trade agreement. This agreement is having an immediate, positive impact. From July 1 to July 13, EU exports to South Korea increased by 16%. In just two weeks, EU exporters directly benefited from increased exports and gained market share in South Korea which will be difficult for U.S. producers to reclaim.

As a member of the Committee on Ways and Means and its Subcommittee on Trade, I am working to move these agreements forward, which the House is prepared to do at any time. On August 3, the Senate announced it had agreed on a process to move the pending trade agreements forward as well. This agreement on a path for approval brings us one step closer toward our products reaching global markets. With the both chambers of Congress prepared to act, it is now up to the White House to move as quickly as possible.

In 2010 exported products from the Third District totaled more than $2 billion, supporting more than 8,000 jobs. These figures would only increase if the agreements with Colombia, Panama, and South Korea were enacted. We cannot afford for these trade agreements languish any longer.

Trade is the model economic stimulus. Increased exports to our allies around the world creates new American jobs which would in turn spur economic growth - all without requiring one dime of new government spending. Even President Obama admits passing the trade agreements would directly support 250,000 American jobs.

Congress and the Administration should be taking all available steps during these tough economic times to increase exports and the jobs trade supports. While the national economic impact of these agreements is tremendously valuable, trade is distinctly important to Nebraska. The next decade offers great opportunity for the farmers, ranchers, and manufacturers in our state because expanding access to thriving international markets would produce a direct benefit.

For more information about trade issues, the latest developments from Congress, or to sign up for my e-mail newsletter, please visit my website at www.adriansmith.house.gov.