While I hesitate to publish this yet, it seems that our Free Trade Agreement with the United States may be finally approved along with that of Columbia and South Korea. This in from Washington as of Wednesday this week.
Real Progress for FTA Between U.S. and Panama
The FTA jumped the first hurdle in the U.S. Congress, having been approved by the committee in the first round with 32 votes in favor and only 2 against.
The Committee on Ways and Means of the House of Representatives yesterday approved the U.S. Free Trade Agreements (FTAs) with Colombia, Panama and South Korea, with 24 votes in favor and 12 against in the case of the South American country, 31 against 5 in the case of the Asians, and (drum roll please!!!)
32-2 in favor for the Central American country.
This is the article from the Times on Monday
WASHINGTON — The Obama administration moved Monday to complete free trade agreements with South Korea, Colombia and Panama, submitting the deals for Congressional approval after resolving a standoff of months with Republicans over the details of a package both sides said they favored.
The White House is depending on Republican support for the trade agreements to overcome the passionate opposition of Democrats concerned about the loss of American jobs to foreign competition. But it agreed to submit the deals to Congress only after receiving what administration officials described as sufficient assurances that House Republicans would also approve an expansion of benefits for displaced workers. The Senate approved an expansion of the benefits program last month.
President Obama and Republican leaders have spotlighted the trade agreements repeatedly as a powerful opportunity for Washington to help the economy, but the projected benefits are modest. The government estimates that the deals would increase annual exports of American goods by about $12 billion, or roughly 1 percent. Service providers like banks and law firms are also expected to benefit.
“These agreements will support tens of thousands of jobs across the country for workers making products stamped with three proud words: Made in America,” Mr. Obama said in a statement. “We’ve worked hard to strengthen these agreements to get the best possible deal for American workers and businesses, and I call on Congress to pass them without delay.”