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Trade deals with Colombia, South Korea and Panama held up by Washington gridlock. But Obama supports them

Thursday, September 29, 2011

Trade deals with Colombia, South Korea and Panama have the potential to be a slam dunk in Congress -- but they may never make it that far.

The US agriculture industry has been calling for the deals, which could open up new international markets for high-quality beef, wheat and soybeans. But the US auto industry is also watching, as the deal with South Korea would mean tariffs aimed squarely at Detroit automakers would decline.

Republicans in both chambers have been calling for them. A few Democrats are expected to support them. And President Obama said in his speech to a joint session of Congress earlier this month "it's time to clear the way" for the deals allowing "American companies to sell their products in Panama, Colombia and South Korea."

Original source: CNN Money