WEREN'T BUFFETT AND VOLKER SUPPOSED TO EXPLAIN ECONOMICS TO HIM?:

Mexico Tops List of Trade Issues Facing White House (MEENA THIRUVENGADAM And HENRY J. PULIZZI, 3/10/10, WSJ)

Business groups warned Tuesday that U.S. companies hurt by punitive tariffs imposed by Mexico a year ago are at risk of having to lay off thousands of workers unless the dispute is resolved soon.

"The current situation is unsustainable," said John Murphy, vice president of International Policy at the U.S. Chamber of Commerce.

"We can't wait and wait and wait," he said. "On trade, when we stand still we fall behind."

A bipartisan group of lawmakers has also called on the administration to act, citing job losses in their states.

The White House has set a goal of adding two million jobs to the economy by doubling exports. President Barack Obama is expected to focus on trade during a speech Thursday at the U.S. Export-Import Bank's 2010 annual conference.

But the administration faces a lengthy list of trade issues—and opposition to trade-opening deals from congressional Democrats and labor-union allies.

In addition to the Mexico dispute, the White House has 30 days to negotiate a deal with Brazil to avoid retaliatory tariffs on about 100 U.S. products, including cars, cotton and certain agricultural items.

Free-trade agreements with South Korea, Colombia and Panama remain stalled in the Senate several years after they were introduced by the Bush administration. And Mr. Kirk said it was unlikely that the Doha round of global trade-opening talks would come to fruition this year.

Who was the last president not to significantly advance free trade? Jimmy Carter?

Posted by Orrin Judd at March 10, 2010 6:11 AM