United States Employment Impact Review of the United States-Colombia Trade Promotion Agreement

United States Employment Impact Review of the United States-Colombia Trade Promotion Agreement

by U.S. Department of Labor

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Overview

United States Employment Impact Review of the United States-Colombia Trade Promotion Agreement by U.S. Department of Labor

This U.S. employment impact review was prepared pursuant to section 2102(c)(5) of the
Trade Act of 2002. Section 2102(c)(5) requires the President to review and report to the
Congress on the impact of future trade agreements on U.S.employment, including labor
markets. This review describes the contents of the United States-Colombia Trade
Promotion Agreement (CTPA), including a summary of the labor provisions of the
CTPA, and assesses the potential economic and employment effects of the CTPA.
The major finding of this review is that the CTPA is expected to have a negligible effect
on employment in the United States. This finding is attributable to, among other factors,
the relatively small volume of bilateral trade between the two countries, the fact that 91
percent of all U.S. imports from Colombia already enter the United States duty-free,
provisions in the CTPA for the gradual removal of U.S. tariffs on import-sensitive goods
from Colombia over an extended period, and safeguards contained in the CTPA to
attenuate the effects of certain increases in imports.
When the CTPA enters into force, over 80 percent of U.S. industrial and consumer goods
currently traded with Colombia will gain immediate duty-free access to Colombia’s
markets and tariffs on all remaining goods will be eliminated withinten years. U.S.
farmers, ranchers, and service providers will also gain greater market access. As U.S.
goods and service-producing industries become more competitive in Colombian markets,
it is expected that U.S. merchandise and services exports to Colombia will increase. This
especially should be the case for the current leading U.S. merchandise exports to
Colombia such as other basic organic chemicals, corn, computer equipment, resin and
synthetic rubbers, and construction machinery. New U.S. export opportunities may also
arise in manufacturing, services, and agriculture as the Colombian market—though
small—becomes more open.

Product Details

BN ID: 2940149019496
Publisher: ReadCycle
Publication date: 01/03/2014
Sold by: Barnes & Noble
Format: NOOK Book
File size: 55 KB

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