Time to trade
IN RECENT DAYS, it has sometimes looked as if the political logjam over trade might finally be about to break. In a State of the Union address centered on job creation, President Obama declared a National Export Initiative to double U.S. exports in five years. In support of this goal, he spoke encouragingly about "strengthening" trade relations with South Korea, Panama and Colombia -- each of which has a free-trade agreement (FTA) with the United States pending congressional approval. Could it be that the president was finally ready to take on labor unions and other Democratic interest groups that have been blocking them? The situation appeared even more hopeful on Wednesday: Treasury Secretary Timothy F. Geithner responded "absolutely" when a member of Congress asked whether the administration wanted to get them through by year's end.
Or so it seemed. Actually, the secretary had been misinterpreted because of some cross talk at the hearing, as his department quickly explained in a news release afterward. The Obama administration's position remains what it was: It wants to adjust the deals, in cooperation with Capitol Hill, and "move forward" with them, but there's no deadline. And so, despite the promising talk, the future of the FTAs remains uncertain. Panama's might still come to a vote this year, which would be good, but it is the smallest and least controversial of the three. A failure to pass the Colombia and Korea agreements would be bad news for American companies and American workers.
The administration's export initiative offers more coordinated government support to firms trying to sell overseas. But when it comes to creating export-related jobs in bunches, the crucial thing is to remove tariff barriers wherever possible and as fast as possible. While America dithers, the European Union is pursuing trade agreements with South Korea, Colombia and other nations; this threatens to leave the United States at a disadvantage.
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http://www.washingtonpost.com/wp-dyn/content/article/2010/02/07/AR2010020702164.htmlPlease email the WH and tell them NO!
http://www.whitehouse.gov/contactNO! On DOHA too. DOHA has secret banking deregulations in it as reported by Zero Hedge yesterday!
http://www.zerohedge.com/article/other-reason-us-not-regulating-wall-streetEmail Pelosi tell her NO Colombia NO South Korea NO (insert any country here) NO DOHA!
http://www.house.gov/pelosi/contact/contact.html