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Obama gets win as Congress passes free-trade agreements

Publié par Clifford Armion le 13/10/2011

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Zachary A. Goldfarb and Lori Montgomery

Congress resoundingly approved long-stalled trade agreements with South Korea, Colombia and Panama late Wednesday, authorizing the most significant expansion of trade relations in nearly two decades.

While the deals with Colombia and Panama are likely to have limited economic impact, the agreement with South Korea is designed to break down barriers between the United States and the world's 15th-largest economy.

The South Korea deal has the potential to create as many as 280,000 American jobs, according to a recent assessment by the staff of the U.S. International Trade Commission, and to boost exports by more than $12 billion. Several major labor unions have warned that any gains will come at the cost of layoffs among American workers because of heightened competition from South Korean imports.

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"Obama gets win as Congress passes free-trade agreements", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), octobre 2011. Consulté le 21/04/2024. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/obama-gets-win-as-congress-passes-free-trade-agreements