The bipartisan passage this week of the Colombia Free Trade Agreement is important both to the nation and to the economic growth in the Salinas Valley. The agreement will open up new markets for locally grown produce. And while it will also open up competition from Colombian products, we cannot shy away from global commerce. It's here, and all protectionist positions will accomplish is to give other nations a first-to-market advantage.
At its root, fair trade agreements extend U.S. capitalism to other nations — something all business should applaud. It is why President Bill Clinton enjoyed bipartisan support for the North American Free Trade Agreement with Mexico and Canada. Has it been painful? Certainly, manufacturers in the U.S. have moved operations south of the border, costing American jobs. But at the same time, NAFTA is on a path to create a new consumer class hungry for U.S. products.
As Rep. Sam Farr points out in today's Soapbox commentary, the agreements come with stipulations that require Colombia "to enact some of the strongest labor protection measures ever imposed. In fact, the labor protection requirements in the U.S.-Colombia FTA are stronger than the labor protections in the EU-Colombia FTA and the recently enacted Canada-Colombia FTA."
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