ABC News’ James Berger reports: In his weekly radio address, President Bush called on Congress to pass three more free trade agreements.
In the last six years, the Bush administration has signed 11 free trade agreements, including seven new agreements in Latin America. Bush is seeking new agreements with Peru, Colombia, and Panama.
The president made the case for free trade by saying, "More exports support better and higher-paying jobs — and to keep our economy expanding, we need to keep expanding trade."
Bush said these three agreements would lower agricultural and industrial tariffs on American businesses, while at the same time provide 75 million new consumers for American goods.
Bush acknowledged that many Americans are uneasy with the new competition free trade agreements bring, but said that "the federal government is providing substantial funding for trade adjustment assistance that helps Americans make the transition from one job to the next."
The administration plans to also work toward a possible agreement with South Korea. "This agreement would strengthen our relationship with a democratic partner in a critical part of the world," Bush said.