Story by Eric Martin, briefings by Caitlin Webber and Ken Monahan
Workers pick lettuce at the farm northeast of Bogota, Colombia. Photo: Scott Dalton/Bloomberg News
Victory for Obama on the trade accords may require the votes of most Republicans, who have opposed him on issues from health care to increasing the federal debt ceiling. That’s because some of the president’s fellow Democrats won’t support deals they say would cost jobs and fail to protect workers in other countries, Bloomberg Government reported.
Columbia Trade Deal: Signed in November 2006, the Colombia trade deal could increase U.S. exports to Colombia by as much as $1.1 billion in the first year of full implementation, according to the U.S. International Trade Commission.
Panama Trade Deal: The agreement would result in a “small” boost to the U.S. economy and U.S. exports, according to the U.S. International Trade Commission. Those gains would be modest in comparison to pending accords with South Korea and Colombia, which are expected to be considered in tandem with the Panama legislation.
Korea Trade Deal: The South Korea trade accord could add as much as $11.9 billion to U.S. GDP once it is fully implemented. It is the largest of the three trade deals under consideration and the biggest since the North American Free Trade Agreement took effect in 1994.
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