ID :
25028
Fri, 10/17/2008 - 11:34
Auther :
Shortlink :
https://www.oananews.org//node/25028
The shortlink copeid
Bush urges Congress to ratify Korea FTA in lame-duck session
By Hwang Doo-hyong
WASHINGTON, Oct. 16 (Yonhap) -- U.S. President George W. Bush Thursday urged Congress to approve the pending free trade deals with South Korea, Colombia and Panama next month when Congress convenes a lame-duck session after the Nov. 4 elections.
"Congress is coming back to Washington next month," Bush said while signing the
Andean Trade Preferences Act here. "One of their top priorities should be to
approve this vital agreement with Colombia as well as with Panama and South
Korea."
Bush's remarks reflect the wish of South Korean and U.S. officials that Congress
approves the Korea-U.S. FTA after the elections, although congressional Democrats
are reluctant to act on the politically sensitive bill in an election year.
Critics say the free trade deal, the biggest for America since the early 1990s,
when the North American Free Trade Agreement took effect, will deepen U.S. trade
deficits and cost jobs for Americans struggling with the financial turmoil caused
by falling housing prices and subprime mortgages.
Proponents say the deal will help enhance the two-way trade volume by US$ 20
billion annually.
Seoul and Washington officials have said they are confident that the Korea-U.S.
FTA will pass through Congress once it is put to a vote.
"By approving our free trade agreement, Congress can directly benefit American
workers and ranchers and farmers, give them greater confidence about our economic
future," Bush said. "These free trade agreements will strengthen our
relationships with key allies."
Democratic presidential nominee Barack Obama on Wednesday expressed opposition to
the free trade deal with South Korea, citing an imbalance in auto trade.
"When it comes to South Korea, we've got a trade agreement up right now -- they
are sending hundreds of thousands of South Korean cars into the United States --
that's all good, (but) we can only get 4,000 to 5,000 into South Korea," Obama
said in the third and last presidential debate broadcast live. "That is not free
trade. We've got to have a president who is going to be advocating on behalf of
American businesses and American workers."
South Korea shipped about 700,000 automobiles to the U.S. last year while
importing 5,000 from the U.S.
Democrats also want more steel shipments to South Korea.
U.S. automakers have called for a guaranteed market share, but Bush
administration officials say any trade deal will not guarantee market share.
Obama recently called the Korea-U.S. FTA "badly flawed."
The Democratic platform calls for Democrats to negotiate FTAs that include
enforceable labor and environmental standards.
The Republican platform says, "Trade agreements that have already been signed and
are pending before Congress should be debated and voted on immediately."
WASHINGTON, Oct. 16 (Yonhap) -- U.S. President George W. Bush Thursday urged Congress to approve the pending free trade deals with South Korea, Colombia and Panama next month when Congress convenes a lame-duck session after the Nov. 4 elections.
"Congress is coming back to Washington next month," Bush said while signing the
Andean Trade Preferences Act here. "One of their top priorities should be to
approve this vital agreement with Colombia as well as with Panama and South
Korea."
Bush's remarks reflect the wish of South Korean and U.S. officials that Congress
approves the Korea-U.S. FTA after the elections, although congressional Democrats
are reluctant to act on the politically sensitive bill in an election year.
Critics say the free trade deal, the biggest for America since the early 1990s,
when the North American Free Trade Agreement took effect, will deepen U.S. trade
deficits and cost jobs for Americans struggling with the financial turmoil caused
by falling housing prices and subprime mortgages.
Proponents say the deal will help enhance the two-way trade volume by US$ 20
billion annually.
Seoul and Washington officials have said they are confident that the Korea-U.S.
FTA will pass through Congress once it is put to a vote.
"By approving our free trade agreement, Congress can directly benefit American
workers and ranchers and farmers, give them greater confidence about our economic
future," Bush said. "These free trade agreements will strengthen our
relationships with key allies."
Democratic presidential nominee Barack Obama on Wednesday expressed opposition to
the free trade deal with South Korea, citing an imbalance in auto trade.
"When it comes to South Korea, we've got a trade agreement up right now -- they
are sending hundreds of thousands of South Korean cars into the United States --
that's all good, (but) we can only get 4,000 to 5,000 into South Korea," Obama
said in the third and last presidential debate broadcast live. "That is not free
trade. We've got to have a president who is going to be advocating on behalf of
American businesses and American workers."
South Korea shipped about 700,000 automobiles to the U.S. last year while
importing 5,000 from the U.S.
Democrats also want more steel shipments to South Korea.
U.S. automakers have called for a guaranteed market share, but Bush
administration officials say any trade deal will not guarantee market share.
Obama recently called the Korea-U.S. FTA "badly flawed."
The Democratic platform calls for Democrats to negotiate FTAs that include
enforceable labor and environmental standards.
The Republican platform says, "Trade agreements that have already been signed and
are pending before Congress should be debated and voted on immediately."
