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U.S., South Korea reach trade deal
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| Contributor | Jason |
| Last Edited | Jason Dec 04, 2010 06:20am |
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| Category | News |
| News Date | Friday, December 3, 2010 11:05:00 PM UTC0:0 |
| Description | The Obama administration announced Friday it had agreed to a trade deal with South Korea, a development certain to set off a major new debate in Congress next year.
The U.S. secured concessions from South Korea on auto tariffs that won praise for the revised deal by Ford Motor Co., previously the agreement’s most vocal opponent. It also won the support of Rep. Sandy Levin (D-Mich.) the lead House Democrat on trade issues, who in a statement said the deal would help reverse a lopsided trade with South Korea on automobiles.
Yet the congressional debate will still set up a bruising battle within the Democratic Party between Obama and liberals who have criticized the agreement negotiated by President George W. Bush.
Rep. Mike Michaud (D-Maine), who with other Democrats met with Obama at the White House to discuss the deal just two weeks ago, said he would do "whatever I can to defeat it." He also said his concerns about the agreement were not addressed.
"I had hoped for more from this White House, which campaigned on a need to change the way we negotiate trade agreements so that they truly benefit American workers and businesses. The deal reached today, while beneficial to the auto industry, falls far short of that goal," Michaud said in a statement. |
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