Congressional passage of the three free trade agreements Wednesday brings the U.S. one step closer to smoothly exporting American-made gadgets to South Korea, Colombia and Panama. And trade organizations representing high-tech companies are eager to hire Americans to get it done.
The U.S. exported $141,518,550,520 in high-technology in 2009, according to the World Bank. Better high-tech trade is a good sign for job and economic recovery, according to industry experts.
“With more than 50 million American workers employed by firms engaged in international trade, Congress has taken the final critical step to advance trade policies that will help grow our economy, our exports and our job market here in the United States,” said Dean Garfield, president and CEO of the Information Technology Industry Council, in a statement Wednesday. “This is a win for policymakers, business, and above all, the American people.”
Last week TechAmerica Foundation reported that the U.S. lost 115, 800 hi-tech jobs in 2010. With nearly 28 million people out of work, that number may seem small. But the decline came for the second year in a row in a sector that is of particular significance to the U.S. economy.
Industry groups are enthusiastic about the new trade developments.
“Over the last 15 years, free trade has helped foster a high-tech boom, created more than 25 million jobs, and increased real wages for U.S. workers,” said the Consumer Electronics Association in a statement.
“These three free trade agreements are tremendous wins for the software and IT industries,” said Business Software Alliance president Robert Holleyman. “They will increase sales and exports of U.S. software products and create jobs in the process.” (RELATED: Liquor lobby praises passage of free trade agreements)
House Minority Leader Nancy Pelosi, however, did not support the measure. She believes the China currency bill should take priority, saying 1 million jobs are lost yearly to Chinese currency manipulation. Pelosi also dissented from President Obama, who, in a rare moment of accord with the GOP, committed to the passage of the trade bills.
“I’ve fought to make sure that these trade agreements with South Korea, Colombia and Panama deliver the best possible deal for our country, and I’ve insisted that we do more to help American workers who have been affected by global competition,” the president said in a statement.
“All three agreements include world-class intellectual property provisions that will help spur technology innovation in the United States and among our trading partners,” Holleyman added.
Beneficial provisions included in the FTAs are the prohibition of tampering with technological protection measures, guarantees of statutory damages for intellectual property theft, agreements to increase market access for IT products and services, and formalization of non-discrimination in e-commerce.