The chair of the U.S. House Foreign Affairs Committee says it is likely three pending FTAs will soon be sent to Congress for a vote.
Representative Ileana Ros-Lehtinen said Friday if Congress passes the Korea-U.S. free trade agreement before South Korean President Lee Myung-bak arrives in Washington in October to hold a summit with President Barack Obama, it would be a tremendous reaffirmation of the U.S.’ alliance with South Korea.
The Republican’s remarks during the opening statement of the committee’s hearing on the U.S.’ free trade pacts with Colombia, Panama and South Korea reaffirm that the U.S. is clearing the way for the ratification of the KORUS free trade deal. Congress also recently renewed the Trade Adjustment Assistance (TAA) program, which served as a major obstacle to the trade pacts ratification.
Ros-Lehtinen, who represents the state of Florida, added that the ratification of the trade treaties has been unfortunately delayed for almost three years. She stressed that the free trade agreement with South Korea will create benefits for the U.S., including a 10-billion-dollar annual increase in the U.S. exports.