You're watching...
Phil English, Arent Fox senior policy advisor, on how Congress' approval of free trade agreements will impact the U.S. economic recovery, and if the a...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
One be a passing -- -- how does the congress.
The president says that it's gonna boost exports like thirteen billion dollars and support tens of thousands of jobs but is He right former congressman is.
Policy advisor.
At law firm -- fox Phil English joins us now on Phillips great to see -- so many questions I'd -- to this jobs.
Question these agreements out there for four years.
The biggest debate was that it would not create jobs in this country will -- create jobs in the United States.
I think the international trade commission studies in other independent studies.
Demonstrate that clearly jobs are gonna be created.
The Korean FTA alone is -- provide a significant boost to the economy this is a huge market opening in the in the Asia Pacific rim there will clearly help manufacturing.
And agriculture.
AM services.
The tier of benefits alone will will boost our economy by ten billion dollars immediately.
The opening in Colombia.
Is not as large but remember this is the fifth largest Latin economy.
They are a close ally.
You know art -- it's right now against their products are negligible.
And this is a manufacturing.
And agriculture export opportunity for us OK clearly is gonna help.
-- -- -- plus seven Columbia here for a second that goes I've been actually looking -- back country of particular Columbia house a couple of issues first there are still security concerns in particular for labor groups that's been one of the things has been debated in Washington.
As a reason not to approve free trade for Columbia also the fact.
That you have still a very weak infrastructure in Colombia and that American companies that are gonna want to do business in Colombia.
Are gonna have problems with building plans that they're gonna need to build and also distribution of the products what do you say.
What I say to that is this FDA is going to help boost that infrastructure long term.
And help us -- to their economy at a critical time.
-- an otherwise.
Some of our competitors including Canada and Brazil will would be getting the foothold ahead of us.
As to the the very real issue.
About labor violence the fact is Columbia in recent years has made enormous strides to addressing that problem.
They adopted an action plan -- they have at the milestones.
In an end of the president of Columbia obviously applaud apply an agreement but again I think that there's a worry about delay in building infrastructure and that they would like to increase the size of the port there they would like to work on the river.
The waterways but again it's about it's about time Phelan that's right and -- In terms of clump.
I think that's that is a concern.
But honestly.
We have an opportunity by entering into this FDA.
-- boost their time lines and actually help them finance those infrastructure improvements that are gonna end up strengthening our economy in the long term.
Can look -- until this is Scott Martin you mentioned the Korea opportunity is one that could be a big boost here.
Hasn't the European Union now gone in on another free trade agreement -- like Sheryl said we.
Model around in this in passing this agreement for years -- the European Union has come in and sign an agreement with Benson added that we kind of missed the boat on the the Pacific rim with regards the U come in and now.
We did not realize our potential we should have passed Korea years ago.
But having said that I think better late than never by moving in now I think will give our companies in areas like financial services.
Our agricultural producers in our manufacturers.
An opportunity to go in and compete on a level playing field.
Ultimately this is going to be a critical engagement for us in improving our competitive position in the Pacific rim.
And ultimately this is going to be a very important partner not only strategic place.
But also -- and in terms of our profile in the Asian economy.
Why couldn't.
President Obama and congress just passed this as soon as He took office -- this is mainly lowering the tariffs -- our products going over there.
Whereas we already let most of the over here without much tariffs what what can we just have -- -- -- it to Begin with.
This has to do more with domestic politics -- economics the fact is organized labor.
Has continued to oppose the idea of doing FDA's.
Certain key unions came on board with the Korean FDA late in the game.
But the fact is this has had enormous symbolic politics remember in the -- wave election.
The victors in that election.
Campaign very hard against free trade without really offering an alternative.
Now -- in a position where they and they have to deal with.
Our long term economic news and looking back I think we could have benefited enormously.
With passing out of Korea earlier.
I think we could've made the moves on Colombia earlier the but having said all of that lets give the administration credit.
For finally having moved these agreements forward.
And in the face of a certain amount of resistance from their own political base.
Alright Phil English senior policy advisor at -- on fox film is great to have you -- -- a fascinating topic -- there's more to come on this is assault against to play out for all of us thank you felt.
Thanks here well -- for all of you to weigh in from home today will a new free trade agreements with South Korea Panama Colombia create American jobs.
