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A small company in Denver, Colorado, capable of transporting cargo shipments of oversized freight and heavy machinery, is a perfect example of how the pending free trade agreements with Colombia, South Korea and Panama will help American businesses grow and prosper, while supporting tens of thousands of jobs here at home. As part of the vast services sector that helps support U.S. manufacturing, SR International acts as a travel agent for bulldozers. Specifically, it specializes in exporting American-made bulldozers, combine harvesters, and mining equipment to anywhere in the world.
SR International Logistics supports various industries, including heavy construction, major defense contractors, infrastructure, gold and copper mining, power generation, and petrochemical/refineries. They then arrange transportation, documentation, customs clearance, and machinery dismantling and reassembling, while providing cheaper shipping rates for their clientele.
Currently, about five percent of SR International’s export business goes to Panama and Colombia. However, U.S. heavy machinery manufacturers now face ten percent tariffs on products like bulldozers and combines. Once implemented, the trade agreements with these two countries will immediately eliminate barriers that currently hinder heavy machinery companies from exporting their products overseas.
“I believe that any kind of assistance to my clients- particularly in the form of reduced tariffs- will enable us to increase the type of cargo that we move to these destinations,” said Russ Steele, Chief Executive Officer of SR International.
According to SR International, there is currently significant demand for construction and mining machinery in Panama, as well as an agricultural need for heavy machinery in Colombia.
“We are already working on increased marketing to Panama and Columbia because we feel that construction machinery will be in higher demand,” said Steele. “The trade agreements, once implemented, will have an impact on our business because heavy construction, mining, and agricultural machinery exports will likely drastically increase. I anticipate the need to hire additional employees if we were to find the right opportunity as a result of the new trade agreements.”
As businesses like SR International continue to see an increase in demand for their products abroad, USTR is working to help increase opportunities for companies to export more. By opening markets through trade agreements and enforcement activities, USTR continues to help businesses sell more and support new, quality jobs for American workers here at home.