I applaud the Administration for sending job-creating trade deals to the Hill. The President spoke about the benefits of opening new markets in his State of the Union speech and again in the most recent joint session of Congress. I am happy to hear that we can now turn that talk into bipartisan action -- and American jobs.
Approving these trade agreements is vital to America's global competitiveness. The failure to open new markets while China, Canada, and the EU race ahead with trade deals of their own costs America thousands of jobs and lost opportunities in emerging markets. The US-Korea trade agreement alone will create more than 70,000 American jobs and generate billions of dollars in new business activity. It will also advance new standards for intellectual property rights protections to shield American businesses from counterfeiting and open new doors for trade in services.
These trade agreements are our opportunity to address economic uncertainty with a no-cost, proven jobs stimulus. In the coming days, I will be working non-stop to ensure my colleagues in both chambers and in both parties understand how immensely important these trade deals are to our economic recovery and long-term job creation.