The larger story out of Speaker Nancy’s Pelosi’s decision to kill the Colombia Free Trade Agreement ^[1] is not that she did it, but that how she did it guts more than three decades of precedent and destroys U.S. credibility on free trade ^[2]. That said, there is still a strong factual basis to make for the deal. The United States Hispanic Chamber of Commerce reminds us ^[3]:

Currently, almost all of Colombian exports enter the U.S. duty-free. The deal, if Congress approves, would eliminate tariffs on more than 80% of U.S. exports of industrial and consumer goods. Non-agricultural exports currently receive a 35% tariff, while agricultural exports face even higher numbers. Ultimately, the U.S. economy would see much-needed growth through the lowering of tariffs and increase of capital investments, making our country more competitive in the global market.
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This trade agreement is also crucial to reclaiming American diplomatic influence in Latin America. Three years after passage of a trade agreement with Chile, their per capita income rose by 83% over this same period, and unemployment fell from 8.1% in 2003 to 6% at the end of 2006.