January 16, 2007

COUNTDOWN TO SMOOT-HAWLEY:

With New Urgency, U.S. and South Korea Seek Free-Trade Deal (CHOE SANG-HUN, 1/16/07, NY Times)

United States and South Korean officials resumed free-trade talks Monday amid growing skepticism that the two governments can narrow their differences before President Bush's authority to move an agreement quickly through Congress expires.

Success would give Washington its biggest trade deal since the North American Free Trade Agreement a decade ago, while expanding market opportunities for exporters in both countries. [...]

Under the fast-track mechanism, President Bush can submit an agreement deal to Congress for a straight yes-or-no vote. An agreement would have to go to Washington by the end of March because lawmakers would need to review it before a vote. After President Bush's authority expires, however, the Congress -- now controlled by the Democrats -- can place amendments on the trade deal, crippling its chances of speedy ratification.


Funny how even Al Gore's greatest moment is so at odds with his party.

Posted by Orrin Judd at January 16, 2007 7:31 AM
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