Wyoming Senator Mike Enzi and members of the Senate Finance Committee approved language that implements free trade agreements with several countries, and in a media release from his office this week, Enzi says Senate ratification of these trade agreements will create jobs and increased export sales to Wyoming.
The U.S. International Trade Commission said in the release that the tariff reduction and non-tariff barriers under a South Korean agreement could increase U.S. goods by as much as $11 billion.
A 4% duty on soda ash would be removed, so Wyoming industries stand to gain millions in new annual sales. Soda ash is Wyoming's biggest direct export to South Korea.
Enzi says that the agreement benefits the U.S. and Wyoming.
The agreement with South Korea would also eliminate the 40% tariff imposed on U.S. beef during a 15 year period, opening markets for Wyoming beef producers, according to the release.