[an error occurred while processing this directive]
Skip to Main Content

Latest News

Advertise Here
October 17, 2011
Volume 89, Number 42
p. 10

Congress Passes Trade Agreements

Exports: Pacts will help open markets and create manufacturing jobs, advocates say

Glenn Hess

  • Print this article
  • Email the editor

Latest News

October 28, 2011

Speedy Homemade-Explosive Detector

Forensic Chemistry: A new method could increase the number of explosives detected by airport screeners.

Solar Panel Makers Cry Foul

Trade: U.S. companies complain of market dumping by China.

Novartis To Cut 2,000 Jobs

Layoffs follow similar moves by Amgen, AstraZeneca.

Nations Break Impasse On Waste

Environment: Ban to halt export of hazardous waste to developing world.

New Leader For Lawrence Livermore

Penrose (Parney) Albright will direct DOE national lab.

Hair Reveals Source Of People's Exposure To Mercury

Toxic Exposure: Mercury isotopes in human hair illuminate dietary and industrial sources.

Why The Long Fat?

Cancer Biochemistry: Mass spectrometry follows the metabolism of very long fatty acids in cancer cells.

Text Size A A

South Korean President Lee Myung-bak speaks during an Oct. 13 ceremony at the White House. JEWEL SAMAD/AFP/Getty Images/Newscom
South Korean President Lee Myung-bak speaks during an Oct. 13 ceremony at the White House.

Congress approved long-stalled free-trade agreements with Colombia, Panama, and South Korea last week. Proponents say the action will create new export opportunities for U.S. manufacturers by lowering tariffs and removing other discriminatory barriers.

Chemical industry officials say the deals will enable them to create jobs by expanding sales in these key markets. “This is an historic step forward for the U.S. and our economy, as America has now made great strides in reestablishing its commitment to open trade, global markets, and leadership on high-standard trade agreements,” says Andrew N. Liveris, chairman and CEO of Dow Chemical.

“The U.S. is no longer sitting on the sidelines but is actively creating opportunities for business and job growth,” adds Lawrence D. Sloan, president and CEO of the Society of Chemical Manufacturers & Affiliates, an industry trade group.

The White House says together the three agreements will boost U.S. exports by $13 billion per year and create tens of thousands of jobs. Most of the export increase is projected to come from the pact with South Korea, which is already America’s seventh-largest trading partner.

The agreement, the White House says, will give U.S. manufacturers “unprecedented access to Korea’s nearly $1 trillion economy.” More than half of U.S. chemical exports to South Korea will receive duty-free treatment immediately, with the remaining tariffs phased out within a decade.

The trade agreements were first negotiated during the George W. Bush Administration, but they languished for years over concerns by organized labor and some Democrats that they would hurt American workers and kill jobs ( C&EN, Sept. 26, page 23).

The pacts will lead to “phenomenal job creation—the only problem is the jobs are being created in foreign nations,” Rep. Peter A. DeFazio (D-Ore.) said during the House debate.

But most lawmakers said the U.S. will benefit because countries such as South Korea impose far more barriers to U.S. exports than the U.S. puts on their products. “Our markets are overwhelmingly open to countries all around the world,” Sen. Ron Wyden (D-Ore.) said. “Again and again, we find that our trading partners have significant barriers and are remarkably closed to us.”

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2011 American Chemical Society
  • Print this article
  • Email the editor

Services & Tools

ACS Resources

ACS is the leading employment source for recruiting scientific professionals. ACS Careers and C&EN Classifieds provide employers direct access to scientific talent both in print and online. Jobseekers | Employers

» Join ACS

Join more than 161,000 professionals in the chemical sciences world-wide, as a member of the American Chemical Society.
» Join Now!