Jobs Gained or lost? Free-Trade Deals With Korea, Colombia, Panama Pass U.S. Congress
Oct. 12 (Bloomberg) — Congress cleared legislation for U.S. free-trade agreements with South Korea, Colombia and Panama that lawmakers said will boost U.S. exports by about $13 billion. The measures now go to the president.
“These free-trade agreements will give our economy a much- needed shot in the arm and create tens of thousands of American jobs,” Senator Max Baucus, the Montana Democrat who leads the Senate Finance Committee, said today in an e-mailed statement. “Passage of these agreements today is a significant victory for American workers and businesses, and will help create jobs here at home.”
The accords, reached under President George W. Bush and revised by the Obama administration, were stymied in a stalemate with Republicans over aid for workers who lose their jobs to foreign competition. President Barack Obama submitted legislation on Oct. 3 after House Speaker John Boehner, an Ohio Republican, said he would consider the worker assistance in tandem with the trade deals. The House voted 307-122 to pass the worker-aid legislation
- Senate OKs Colombia, Panama, S. Korea trade deals (marketwatch.com)
- Three free-trade deals clear Congress (marketwatch.com)
- House OKs Colombia, Panama, S. Korea trade deals (marketwatch.com)
Posted on October 12, 2011, in Government Trough and tagged barack obama, Colombia, George W. Bush, John Boehner, Panama, Senate Finance Committee, South Korea, United States. Bookmark the permalink. Leave a comment.