Trade deals held up by Washington gridlock
September 29th, 2011
09:08 AM ET
3 years ago

Trade deals held up by Washington gridlock

Washington (CNNMoney) - Trade deals with Colombia, South Korea and Panama have the potential to be a slam dunk in Congress - but they may never make it that far.

The U.S. agriculture industry has been calling for the deals, which could open up new international markets for high-quality beef, wheat and soybeans. But the U.S. auto industry is also watching, as the deal with South Korea would mean a drop in tariffs aimed squarely at Detroit automakers.

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Filed under: Colombia • Congress • South Korea • Trade
soundoff (7 Responses)
  1. Beth

    Come 2012 – This ridiculous Do-Nothing congress is out of there.

    September 29, 2011 09:16 am at 9:16 am |
  2. Rudy NYC

    Too bad the article doesn't describe the parts of the legislation the involves the banking industry. How the law provides a rabbit hole to hide money from US taxes.

    September 29, 2011 09:19 am at 9:19 am |
  3. WiredweirdinSF

    The problem with these trade deals is that you cannot trust the Obama administration on anything. Remember that we gave a trillion dollars to the corrupt unions after Obama told us that unemployment would not rise above 8%, remember the "summer of prosperity" last year. Remember all of the shovel ready jobs. Remember how we were told Obamacare would not cost us one dime more. The incompetent, inept, corrupt union toady president is a liar, cheat and fraud. Don't trust him.

    September 29, 2011 09:34 am at 9:34 am |
  4. jay1975

    So the subsidized farmers like it while the reality is that these free trade agreements only make us less competitive, ship jobs overseas and bring down our standard of living. Look what NAFTA did to the textile industry in the US. If we cannot impose tariffs to create a level playing field in our country, we are doomed to continue to lose. I guess the one saving grace is that there will be less incentive for illegals to come over as the government continues to drive us to third world status.

    September 29, 2011 09:47 am at 9:47 am |
  5. Four and The Door

    But the White House has yet to send the deals to Congress. The Obama administration said earlier this year it first wanted to Congress to deliver new funding for a jobs retraining program called Trade Adjustment Assistance, which helps workers whose employers have moved jobs overseas.
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    Take a closer look at this Trade Adjustment Assistance program. This is what Obama is putting in the way of the much needed Trade Agreements which is one of the most important things the federal government could do to reduce unemployment. Trade Adjustment Assistance could actually be called " Large Union Subsidizing Assistance". It has very little to do with actually helping workers and very much to do with American Taxpayers handing more money to the unions. It is easy to see why Obama is holding Free Trade hostage for his special interests.

    September 29, 2011 10:32 am at 10:32 am |
  6. sonny chapman

    "We had to burn the village in order to save it from the Viet Cong." –Vietnam War Strategy.

    September 29, 2011 10:45 am at 10:45 am |
  7. Terry, VA

    I got a great trade deal for us come 11/12. I'll trade you Romney or Cain for Obummie. We need to get someone in the White House with some economic sense.

    September 29, 2011 10:48 am at 10:48 am |