Daily News Update, Feb. 1, 2008

President Bush urges action on Colombia

In his State of the Union Address on Jan. 26, President Bush stressed the importance of trade and establishing new markets for U.S. products overseas. He specifically called on Congress to approve the pending Colombia Trade Promotion Agreement.

"Today, our economic growth increasingly depends on our ability to sell American goods and crops and services all over the world," the President said. "We're pursuing opportunities to open up new markets by passing free trade agreements. I thank the Congress for approving a good agreement with Peru.

"And now I ask you to approve agreements with Colombia and Panama and South Korea. Many products from these nations now enter America duty-free, yet many of our products face steep tariffs in their markets.

"These agreements will level the playing field. They will give us better access to nearly 100 million customers. They will support good jobs for the finest workers in the world: those whose products say 'Made in the USA.'"