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EstimatedIncreasesinU.S.ExportsinSectors
ImportanttoIllinois
PorkProducts 72.3%
FabricatedMetalProducts 56.4
ProcessedFoods 36.2
Chemicals 22.6
Corn 21.0
Machinery 14.9
Source:U.S.InternationalTradeCommission
ILLINOISANDCOLOMBIA–AGROWINGPARTNERSHIP
AU.S.-ColombiaTradePromotionAgreement(CTPA)hasthepotentialtoincreasebothtradeandinvestmentbetweentheUnitedStatesinColombia,improvingonanalreadystrongrelationship.In
particular,Illinoisstandstogainfromincreasedbusinessties,astheCTPAwillcreatejobsathome
throughincreasedexportmarketaccessforbothgoodsandservices,reducedpricesfor
manufacturers,andanimprovedinvestmentenvironment.
AT$307MILLIONIN2010,COLOMBIAISILLINOIS’27THLARGESTEXPORTMARKET
TotalIllinoisExportstoColombia(millionsofdollars)
Source:U.S.DepartmentofCommerce
UponimplementationoftheCTPA,morethan66
percentofIllinois’exportstoColombiawillbeduty
free.ThistariffeliminationgivesIllinoisexportersa
costadvantageofupto$27millionoversimilar
productsexportedbycompetitorswhodonothavean
FTAwithColombia.
WhileIllinoisexporterstypicallyfacetariffsof10-15
percent,94percentofColombia’sexportstothe
UnitedStatesin2010entereddutyfree.CTPAwould
leveltheplayingfieldforIllinoisexporters.
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10ILLINOISEXPORTSTHATCTPAWILLMAKEDUTYFREEIMMEDIATELY
COMPANIESWHOSEEXPORTSBECOMEDUTYFREEIMMEDIATELYUPONIMPLEMENTATIONOFCTPA
Contact:DavidThomas,Director,PublicPolicy,BusinessRoundtable
202.496.3262,[email protected]
ValueofExports Potential
Product toColombia(2010) DutySavings
Dumpingmachinery $47,220,000 $7,083,000
Transmissionapparatus 17,630,436 upto2,644,565
Axlesforrailvehicles 13,790,235 689,512
Railwaycars 13,324,000 2,664,800
Salts 8,630,662 431,533
Thermostats 6,101,077 upto915,162
Staticconverters 5,418,714 812,807
Proteinconcentrates 5,183,499 1,036,700
Storagebatteries 4,780,393 717,059
Plasticplatesandsheets 4,461,943 892,389
BaxterInc.,Deerfield,exports
medicalsuppliestoColombiathat
facetariffsof5-10percent.
ArcherDanielsMidland,Decatur,
exportssalts,cornmeal,wheat,
andproteinconcentratesto
Colombiathatfacetariffsof5-20
percent.
AuroraPumps,NorthAurora,
exportsmachinerypartsto
Colombiathatfacetariffsof5-
10percent.
FiltrationGroupInc.,Joliet,
exportsairandotherfiltersto
Colombiathatfacetariffsof10-
15percent.
JohnDeere,Moline,exports
heavyequipmentandpartsto
Colombiathatfacetariffsof5-
15percent.
NalcoCompany,Naperville,
exportsindustrialchemicalsto
Colombiathatfacetariffsof5-10percent.
SolaeInc.,GibsonCity,exports
proteinconcentratestoColombia
thatfacetariffsof20percent.
Bunn-O-MaticCorporation ,
Springfield,hasexported
machinerytoColombiathat
facestariffsof5-10percent.
