We have to admit that discussions of international trade are not exactly exciting to most people. But trade is undeniably important.
Volkswagen’s new plant in Chattanooga recently announced that it will be expanding its overseas markets. The VW Passats being manufactured at the local plant were already slated to be sold in the United States, Canada and Mexico. But now VW says it will market the cars in South Korea as well. That can only be good news for our local economy.
Volkswagen’s initial goal in South Korea is annual sales of 4,000 Chattanooga-built Passats. Obviously, we hope the company will reach and exceed its sales goals in South Korea and in other places where the Passats will be marketed.
Coincidentally, Congress is considering a free-trade agreement with South Korea, which could further open that country’s markets to U.S. goods, to the benefit of American workers. Fortunately, though, VW’s planned sales in South Korea will move forward, regardless of whether the free-trade agreement is approved by lawmakers in Washington.
At any rate, sales of locally manufactured Volkswagens demonstrate the great importance of international trade in sustaining jobs and economic growth here in Chattanooga and throughout our country.
Whether or not it’s an especially exciting subject, trade is clearly vital to our economy.