USA Today's editorial board has a great piece on why Congress should pass the free trade agreement with Columbia. Here are a few reasons why:
- Colombia would get nothing from it other than the permanent extension of the status quo. That's because most of its products already come into this country duty-free thanks to a decision two decades ago to promote legitimate businesses in an Andean region rife with cocaine.
- Most U.S. exporters to Colombia would see their tariffs, now ranging from 7% to 80%, slashed to zero. For a company such as Illinois-based Caterpillar, a major exporter to Colombia, that could mean a $200,000 savings on a piece of heavy equipment.
- The government of Colombia is a solid ally and a counterweight to Venezuelan strongman Hugo Chavez. It has accepted decades of American arguments that free markets and trade are the best engines of growth and antidotes to extremism.
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