Brownfield, MO
05-11-07
Congress, White House reach deal on free trade pacts
by Peter Shinn
The White House and Congressional leaders have reached a deal that will
advance pending free trade agreements (FTAs) with Peru, Colombia, Panama
and South Korea. The White House apparently agreed to insert binding language
in the FTAs on labor standards and environmental protection in exchange for
Congressional votes on the trade pacts, which are now expected to pass
Congress.
The National Pork Producers Council (NPPC) praised the compromise. In a
release, the NPPC pointed out that analysis by Iowa State University ag
economist Dr. Dermot Hayes suggests the combination of all those trade
agreements, when fully implemented, will raise the value of U.S. hogs, in total, by
$12.66 a head on a live basis.
U.S. Trade Representative Susan Schwab also touted the deal with
Congressional Democrats. She called the agreement to advance the FTAs "an
historic opportunity to restore the bipartisan consensus on trade..."
And she suggested the deal on the pending FTAs may only be the beginning of a
new, cooperative relationship between the White House and Congress on trade.
That, Schwab said in a statement, would bode well for renewal of President
Trade Promotion Authority, which is slated to expire at the end of next month.
"The new trade policy template also opens the way for bipartisan work on Trade
Promotion Authority," said Schwab.