While the U.S. Dawdles, Others Move on Trade Opportunities

By August 7, 2009Trade

Journal of Commerce, “South Korea, India Sign Bilateral Trade Pact“:

In an effort to boost trade between two of Asia’s major emerging economies, South Korea and India signed a comprehensive free trade agreement Friday that will slash tariffs, encourage mutual foreign investment, and facilitate the exchange of professional workers between the two countries.

Financial Times, “Obama urged to ‘make the case’ for free trade“:

The US’s largest trade and business groups … call on Barack Obama to “make the case” for international trade agreements following what many believe has been months of dangerous drift in Washington.

“The United States cannot stand still in the international economic sphere,” the groups say in a joint letter to the president obtained by the Financial Times. “We need to revitalise our export and international trade leadership by moving forward on multilateral, regional and bilateral market-opening opportunities.”

US business leaders have expressed growing concern about the Obama administration’s reluctance to breathe life into the stalled Doha Round of world trade talks or to pick up on bilateral trade deals with Panama, Colombia and South Korea that were bequeathed by the Bush administration.

The August 5 letter came from Business Roundtable, Emergency Committee for American Trade,
National Association of Manufacturers, National Foreign Trade Council, United States Council for International Business, and the U.S. Chamber of Commerce.

A copy is posted at the Emergency Committee’s website here (.pdf).

Leave a Reply