Free Trade Facts

From the Bush Administration's State of the Economy Overview, which was released today.

As of January 1, 2007, the 13 countries with which America has implemented free trade agreements account for just 7.3 percent of world GDP (excluding the U.S.). But our exports to these 13 countries account for more than 42 percent of U.S. exports. The 13 countries are: Australia, Bahrain, Canada, Chile, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco, Nicaragua, and Singapore. Congress has approved agreements with three more countries – the Dominican Republic, Costa Rica, and Oman – and America has completed agreements with Peru, Colombia, and Panama which will require Congressional enactment. America continues negotiations with other trading partners across the globe.

That pretty much supports what everyone with any sense knows. Free trade is good, it benefits us more than them (although it is good for everyone), and we should be doing more of it. Just ask Angela Merkle.

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