International Nameplate Auto Dealers View Trip as a Positive Step for Trade
ALEXANDRIA, Va., Nov. 10, 2010 /PRNewswire-USNewswire/ -- American International Automobile Dealers Association Chairman Rick DeSilva, a Hyundai and Subaru dealer in Mahwah, New Jersey, today issued the following statement regarding President Obama's visit to South Korea this week as part of a 10-day tour of Asia.
"As nations everywhere work to climb out of the worldwide recession, it is more important than ever that the United States be an engaged and enthusiastic participant in global trade. America's international auto retail industry, just one sector of our economy that benefits greatly from trade, applauds President Obama's trip to South Korea. Dealers are optimistic that this visit indicates a move away from insular, anti-trade policies, and a step toward a more positive relationship with countries, like South Korea, that have waited for more than three years for Congress to ratify a free trade agreement. It is high time that the United States rejoins the global market and disavows the protectionist rhetoric and policies that have stalled our economic recovery."
The United States signed a free trade agreement with South Korea in 2007. The agreement remains inactive while a majority in Congress refuses to debate or vote on it as currently drafted. If ratified by Congress, the agreement would eliminate tariffs on nearly 95 percent of consumer and industrial product trade and add up to $30 billion in bilateral trade between our two countries. Panama and Colombia are also waiting for Congress to ratify trade agreements signed in 2007. The U.S. Chamber of Congress predicts that U.S. failure to act on trade while other countries enact their own trade pacts could cost Americans $40.2 billion in exports and 383,400 jobs.
About AIADA: Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America's 10,000 international nameplate automobile franchises that sell and service the following brands: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Maybach, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Saab, Scion, Smart, Subaru, Suzuki, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing more than 500,000 American jobs. Visit AIADA online at www.aiada.org.
SOURCE American International Automobile Dealers Association