For some politicians on the campaign trail, free trade is a bad word (well, two bad words).  But how about a fair trade agreement?

As debate over the trade agreement with Colombia heats up, it’s surprising to learn that many Americans don’t know that the U.S. market is already wide open to imports.  In fact, the average U.S. tariff is about 2%, and fully 92% of imports from Colombia enter the U.S. market duty free. 

But Colombia imposes an average tariff on U.S. manufactured goods of 14%, and much higher for agricultural products.

For a great overview of what this means in terms of real products from bananas to Caterpillar tractors, Under Secretary of Commerce for International Trade Christopher Padilla spells it out with dazzling clarity below.  It’s about fairness. 

As U.S. Chamber President and CEO Tom Donohue recently wrote in the Politico, “This status quo is unfair to American workers, farmers, and businesses, who expect Congress to look out for their trading interests at least as carefully as it does those of our friends and allies overseas.”

In fact, it’s like starting a basketball game down a dozen points from the tip off. 

The pending agreement would level the playing field by eliminating Colombia’s tariffs, most immediately.

Sounds like a fair deal.