UNITED STATES-KOREA FREE TRADE AGREEMENT IMPLEMENTATION ACT
(Extensions of Remarks - October 13, 2011)

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[Extensions of Remarks]
[Page E1847]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      UNITED STATES-KOREA FREE TRADE AGREEMENT IMPLEMENTATION ACT

                                 ______
                                 

                               speech of

                            HON. FRED UPTON

                              of michigan

                    in the house of representatives

                       Tuesday, October 11, 2011

  Mr. UPTON. Mr. Speaker, thanks to my good friend and Michigan 
colleague Dave Camp for his leadership on this issue. I come from the 
State of Michigan, where there is no single issue of greater importance 
than jobs and the economy.
  The fact is hundreds of thousands of American jobs rely on exports, 
and promoting a robust trade agenda will only help bolster our economy 
and create more jobs. 95 percent of the world's consumers live outside 
of the United States, so opening up their markets for our manufactured 
and agricultural goods is a matter of common sense.
  In 2010, U.S. exports totaled more than $1.8 trillion, or 12.5 
percent of GDP. Michigan ranks 8th in the nation for the number of 
export-dependent jobs. In 2008, nearly 12,000 companies exported goods 
from locations within our state. And last year, Michigan export 
shipments totaled some $44.5 billion.
  The three pending free trade agreements are expected to increase 
Michigan agriculture exports by $45 million per year--the agreement 
with South Korea alone will increase Michigan pork exports by $4.5 
million annually.
  The medical device industry also stands to benefit greatly from these 
agreements. Demand for medical devices in South Korea is expected to 
grow by 10 percent each year, and the new duty-free status given to 
devices will give companies like Stryker, headquartered in my district, 
unprecedented access to that market. In fact, it is my understanding 
that medical device sales may increase as much as $1 billion. This 
legislation finally allows us, the United States, to reverse course and 
export products rather than jobs. Isn't that a good thing? Of course it 
is!
  By removing barriers to U.S. exports, American job creators will have 
significant new market access: that' good news for business, jobs, and 
Southwest Michigan; and the entire country.

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