As expected, President Barack Obama today signed long-awaited legislation implementing the recently passed free trade agreements between the US and Colombia, Panama, and South Korea.
The three agreements were approved by Congress earlier this month, along with other trade measures, including renewal of the Generalized System of Preferences, the Andean Trade Preferences Act, and Trade Adjustment Assistance.
The move has been welcomed by retail, apparel and footwear firms.
“Today’s action by President Obama represents the largest market opening for US goods and services since the North America Free Trade Agreement entered into force more than 15 years ago,” said Kevin Burke, president and CEO of the American Apparel & Footwear Association (AAFA).
“The permanent two-way trade flows that will be created once these agreements are fully implemented will directly support more than four million US apparel and footwear industry jobs and spur opportunities to create more.”
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