US passes delayed pacts with S. Korea, others

In rapid succession, the House of Representatives and Senate voted on the three trade pacts, which the administration says could boost exports by US$13 billion and support tens of thousands of American jobs. None of the votes were close, despite opposition from labor groups and other critics of free trade agreements who say they result in job losses and ignore labor rights problems in the partner countries.

Bipartisan Acclaim

U.S. President Barack Obama said passage of the agreements was “a major win for American workers and businesses.”

“Tonight's vote, with bipartisan support, will significantly boost exports that bear the proud label 'Made in America,' support tens of thousands of good-paying American jobs and protect labor rights, the environment and intellectual property. ... I look forward to signing these agreements.”

The agreements would lower or eliminate tariffs that American exporters face in the three countries. They also take steps to better protect intellectual property.

U.S. farm and manufactured goods exports are expected to rise under the three agreements as tariffs are phased out. The pacts also open new markets for U.S. companies in service sectors such as banking, insurance and express delivery.

“These free trade agreements will give our economy a much-needed shot in the arm and create tens of thousands of American jobs,” said Senate Finance Committee Chairman Max Baucus, a Montana Democrat.

Senate Republican leader Mitch McConnell said the bipartisan votes showed there were some areas where his party and Obama could find common ground despite a battle over jobs legislation and many other clashes in the past.

“For our part, Senate Republicans are ready to work with him on an even more robust trade agenda,” McConnell said.

The House also passed and sent to Obama for his signature a bill to extend aid to workers displaced by foreign competition. Obama had demanded that the worker aid bill be part of the trade package.

Years in the making, the votes come just a day after Senate Republicans were unified in rejecting Obama's US$447 billion jobs creation initiative.

The agreement with South Korea, the world's 13th largest economy, was the biggest such deal since the North American Free Trade Agreement with Mexico and Canada in 1994.

The votes were 278-151 for South Korea, 300-129 for Panama and 262-167 for Colombia. The Senate votes were 83-15 for Korea, 77-22 for Panama and 66-33 for Colombia.

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