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US trade deals with Panama, Colombia and Korea face first hurdles in Congress

Thursday, July 7, 2011

Long-delayed US trade deals with South Korea, Colombia and Panama faced their first hurdles in Congress, setting the stage for possible final votes in coming weeks.

Key committees in the both the Senate and the House of Representatives will consider draft bills to implement the three agreements, each of which were originally negotiated and signed more than four years ago.

The pacts together are expected to boost U.S. exports by about $13 billion, which the Obama administration says will help to create or support tens of thousands of American jobs.

Original source: Reuters