EB: I too would love see his adminstration withdraw from these free trade agreements and be promote goods and services that are made in America.. He finally sound like progressive foward thinking Democrat like Lyndon Baines Johnson, not boring old centerist like Clinton... His aims and goals for future could definitely make this country unto next century...
Caesar & All,
A special item in the speech was Obama's claim that
his goal to DOUBLE USA EXPORTS is ahead of schedule.I'm not an expert on the trade agreements, but last year I asked well-informed Panamanians, including an economist. The economist told me that the Panama FTA is more advantageous to the USA (SURPRISE!!!), but might open up opportunities for "non-traditional" entrepreneurs. He criticized his own former boss, the previous Panama president, for not removing the guy who the USA said had to step down as leader of the national legislature before the FTA would be approved. He eventually stepped down.
The FTA will ease the way for additional US exports to Panama, although it is a small country. But adding Korea and Columbia to the mix will boost US exports even more.
This is a good thing for the US economy. Don't send jobs overseas; send US goods overseas!
Here's what could happen for Florida and Virginia via the Panama FTA(SME = Small & Medium Enterprises):
http://www.trade.gov/fta/panama/florida.pdf (for all the Rattlers, especially)
http://www.trade.gov/fta/panama/virginia.pdf (for y04)
Other states here:
http://www.ustr.gov/uspanamatpa/jobsThe "downside" for Panama (long a secretive place to bank money) and rich folks trying to hide their money from Uncle Sam & the IRS is that the agreement pretty much guts the bank privacy that has made Panama similar to the Cayman Islands.
(Hello, Mitt!)On April 18, 2011, a Tax Information Exchange Agreement (TIEA) went into effect between the United States and Panama. The TIEA will permit the two countries to improve their tax information exchange transparency networks globally.
THAT agreement was a demand of the US in order to go forward with the FTA.
http://www.ustr.gov/trade-agreements/free-trade-agreements/panama-tpa