Tariff Ticker Highlights Cost Of Delaying Colombia FTA

by Glen Shapiro, LawAndTax-News.com, New York

29 April 2008

The US Commerce Department on Thursday unveiled a screen ticker highlighting the USD1bn in estimated tariffs imposed on US exports to Colombia since the free trade agreement (FTA) was signed.

Many of these tariffs on US goods and services would be immediately eliminated once the Colombia FTA enters into Force, the Department argued.

These tariffs can only be eliminated if Congress schedules a vote and approves the Colombia FTA.

The agreement was signed over 520 days ago, on 22nd November, 2006.

“At a time when exports are booming and we are looking to spur US economic growth, Congress should allow American workers to compete on a level playing field,” US Trade Representative Susan C. Schwab commented, going on to add:

“Burdening products and services created by American workers, farmers and entrepreneurs each time they sell to the Colombian market must end now. Every day we delay, only harms us more.”

The USTR further argued that every day that Congress fails to level the playing field costs US workers, whose products carry stiff tariffs like 80% on high quality beef, 20% on shampoo and deodorant, 15-20% on wine, 5-10% on cell phones, and 5-10% on important medical equipment such as ultrasounds, X-ray machines and pacemakers.

Once the Colombia FTA is in force, these tariffs will be immediately eliminated, making American products more affordable and more competitive in the Colombian market, the Department reasoned.

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