Saturday, June 18, 2011

Sen. John Hoeven Gives GOP Weekly Address

Sen. John Hoeven (R-N.D.) gives this week's Republican address, and he gets us back to the issue that most worries Americans:  jobs.  Hoeven explains how free trade with other countries will help create jobs here (and improve the living standards in other countries, too).  It's hard to believe that we have still not ratified our trade agreements with South Korea, Columbia and Panama.  This is way over-due.  Here's the link to his video.

Hoeven recently travelled to South Korea with Senate Republican Leader Mitch McConnell.  Hoeven uses South Korea as an example of how free trade creates jobs:

[South Koreans are] keenly aware that U.S. service members sacrificed so much to give them a free society and a free-market economy where they could pursue their dreams.

“South Korea is now a prosperous, modern nation, with a $1 trillion economy, and 49 million consumers, in large part because American service members won and now help preserve the peace. 
Korea is the 15th largest economy in the world, and our country’s 7th largest trading partner. . . .

“The U.S.-South Korea Free Trade Agreement will eliminate or reduce more than 85 percent of the tariffs between the United States and Korea, including the eventual elimination of a 40 percent Korean tariff on American beef.

“Just one project we’ve been working on in my home state, a new beef processing facility, could mean a $100 million investment in our economy and 500 new jobs. In North Dakota that’s a big deal.

“But these free trade agreements are an even bigger deal for America. The South Korean Free Trade Agreement alone will increase our nation’s exports to that country by more than $10 billion and create 280,000 American jobs. In fact, for every 4 percent increase in American exports, we can create one million new American jobs.  . . .

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