Breakthrough on stalled trade pacts announced

[xchrom]

http://www.latimes.com/business/la-fi-free-trade-20110805,0,5411738.story

Reporting from Washington—
Senate leaders announced a breakthrough on long-stalled trade agreements with South Korea and other U.S. trading partners, promising swift votes on one of President Obama's top priorities after Congress returns next month from its August recess.

The accord comes at a time of growing economic uncertainty in the U.S. as unemployment remains high and the president and members of both parties struggle to show voters that jobs and the middle class are their top priority.

Proponents say the trade agreements — with Colombia and Panama as well as South Korea — will pump as much as $14 billion into the U.S. economy and add more than 250,000 jobs. But the benefits may not be seen immediately because it will take time for many U.S. companies to take advantage of the increased access to foreign markets.

In the short term, the benefits may lie more with the three trading partners, especially South Korea, which is expected to move quickly to capitalize on the opportunity to expand its existing penetration of the U.S. auto market.





***oh that'll help:eyes:

[blkmusclmachine]

1. Sabotage.

n/t

[indurancevile]

2. oh, isn't that great. "in the short term" is where we all live. and experience with

previous trade agreements shows the long term never comes.

the people making money off these deals = financial capital.

[Firebrand Gary]

3. Fantastic, Now let's work with the Tea Party and get a massive jobs bill passed.

We should wipe out ALL tax loop holes and do nothing but pure infrastructure. After all, these members have infrastructure that is falling apart in their districts. Let's just be supportive of them as we know Grover will attempt to portray it as a tax hike. However, he would be lying.

[inna]

4. 3 letters - TPP. (if you don't know what the f*** that stands for....

unfortunately, you'll probably find out anyway, soon enough.)


let's just say that this goes beyond Bush's wildest dreams. (to each China, its own Nixon?.... or something like that, i suppose, from the existential perspective. :shrug: )

[Altoid_Cyclist]

5. Another SHAFTA in the making?

This area had quite a few large employers move to Mexico for some reason...must just be a coincidence. It's probably just a coincidence that a lot of the other companies from this area moved to China.

These were the type of jobs that paid well, provided good benefits and you had a job for life. Now we have thousands of McJobs which offer none of those enticements.

Pessimism on my part...., or just experience? Time will tell.