Sen. Mike Johanns expects relaxed trade rules with three countries to create hundreds of thousands of jobs and greatly benefit Nebraska.
President Obama has sent Congress three trade agreements with South Korea, Columbia and Panama.
Johanns welcomes the move and expects Congress to approve them and approval, according to Johanns, would open markets for Nebraska agricultural goods as well as other products.
“I just think you’re going to see a pretty broad area of trade when it’s all said and done, again especially in Korea, especially in Columbia,” Johanns tells Nebraska Radio Network.
Johanns has been frustrated with the lack of action on the trade agreements which were actually signed more than four years ago. The United States Chamber of Commerce forecasts that approval of all three trade agreements would increase exports by $40 billion. The agreements with South Korea and Columbia would have the greatest impact, according to Johanns. Exports to South Korea could increase as much as $10 billion. Exports to Columbia could increase by $1.1 billion. Johanns considers Panama an important emerging trade partner.
The economic impact, according to Johanns, could be nearly immediate.
“You’re going to start to see goods flowing and that’s a good thing,” Johanns says. “And, I just really do believe that you’ll see job creation. I think you’ll look back again in 12 months and two years and five years and you’ll see job, solid job gains.”