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)
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