US White House, legislators reach deal on three trade agreements

29 June 2011 02:27  [Source: ICIS news]

HOUSTON (ICIS)--The White House and key US legislators reached an agreement on free trade accords with South Korea, Colombia and Panama, a spokesman for President Barack Obama said on Tuesday.

The agreement would extend aid to US workers who lose their jobs as a result of increased imports or outsourcing, said White House press secretary Jay Carney.

The aid for unemployed workers is believed to address a roadblock to consideration in Congress of the free trade agreements.

Dow Chemical has praised the trade deal with South Korea, which would provide more than $1m (€700m)/year in tariff reductions for the company’s US-manufactured exports to South Korea.

($1 = €0.70)


By: Brian Ford
+1 713 525 2653



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