Congress tackles trade deals
October 12th, 2011
01:13 PM ET
3 years ago

Congress tackles trade deals

Washington (CNNMoney) - Congress is expected to pass trade deals with Colombia, South Korea and Panama on Wednesday, racing to get them to President Obama before the South Korean president comes to Capitol Hill.

The U.S. agriculture industry has been calling for the deals, which could re-open international markets for high-quality beef, poultry, wheat and soybeans. The U.S. auto industry is also a fan of the deals, which would cut back on South Korean tariffs that have hit Detroit automakers.

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Filed under: Congress • Trade
soundoff (5 Responses)
  1. ConservaFASCISTS/TEAliban/TEAhadists

    This is part of the President's jobs bill. I want to see how much opposition this gets. The President saved the auto industry and this part of the bill will make them more competetive. But the party of No is certain to vote agianst something that they've supported before. VOTE THE OBSTRUCTIONISTS OUT!!!!

    October 12, 2011 01:20 pm at 1:20 pm |
  2. Former Republican, now an Independent

    President Obama should not give these republicans the unfair trade bills they have been wanting, without them approving his American Jobs Act. He needs to be more firm with these obstructionists.

    October 12, 2011 01:21 pm at 1:21 pm |
  3. jsmoulder

    The U.S. auto industry is also a fan of the deals, which would cut back on South Korean tariffs that have hit Detroit automakers. In other words more jobs move over seas with this trade deal. Koreans don't buy our cars. Wake up democrats this will not help do anything but to increase unemployment.

    October 12, 2011 02:11 pm at 2:11 pm |
  4. kat

    This so-called president is a joke.

    October 12, 2011 02:18 pm at 2:18 pm |
  5. Rudy NYC

    If Republicans are so hot to have them passed, then that should be a red flag that there is something in there that doesn't serve the best interests of the majority of Americans. It should be a sign that something is rotten, and it needs a closer look.

    It is the deals with the Panama that deserve greater scrutiny. The deal is not just about trading goods, it contains clauses about trading capital. Specifically, it creates tax havens for people to set up shop where they can avoid US income and corporate taxes, similar to what they currently do in places like the Bahamas. This is worse by a long shot. Just watch how many companies suddenly headquarter themselves in Panama, especially financial institutions.

    October 12, 2011 02:32 pm at 2:32 pm |