Non-Passage of FTAs Not Good for Ag Industry
July 27, 2011American Meat Institute President and CEO Patrick Boyle says four years of trade benefits for U.S. farmers, ranchers and food processors have been forfeited due to inaction on the Korea, Colombia and Panama free trade agreements. Among what Boyle considers sad realities of the inaction are a pending FTA between Korea and Australia as well as one between Colombia and Canada. Boyle says the biggest consequence of not moving forward quickly on the FTAs is that Korea is waiting to act until Congress approves the agreement. Meanwhile Korean opposition leaders are seeking changes to the original terms, including maintaining a 42-percent tariff on American beef for 10 years.