Korea/US FTA: Washington source says US Congress have reportedly postponed voting on pact until October
Arirang | Sep 01, 2011
Korea/US FTA: Washington source says US Congress have reportedly postponed voting on pact until October
According to an anonymous source in Washington Thursdaythe US House of Representatives has tentatively agreed to vote on the country’s three pending trade deals with Korea, Colombia and Panama in mid October.
But observers say the belated move on Korea-US FTA could lead to more delays in the latter half of this year.
The protracted battle over the US debt limit as well as other major national events such as the ten year anniversary of the September 11th attacks this month have held up plans to ratify the deals.
Meanwhile, another source on the Capitol Hill has expressed optimism on the swift ratification of the pending Korea-US FTA saying US House Republican leaders have set a legislative agenda for this fall to vote on the pactand US President Barack Obama’s speech before Congress next Wednesday to shore up job creation and boost the federal government’s fiscal sustainability are signs of momentum toward approving the trade agreement this month.
According to recent Korean government reports Korea’s trade surplus with the US will increase by 140 million US dollars every year over the next 15 yearsonce the deal takes effect.
Yang Ji-woo, Arirang News.
Reporter : jwyang@arirangtv.com
