ID :
193561
Thu, 07/07/2011 - 20:14
Auther :
Shortlink :
https://oananews.org//node/193561
The shortlink copeid
Senate begins consultations on FTA with S. Korea
By Lee Chi-dong
WASHINGTON, July 7 (Yonhap) -- After years of delay, a key U.S. Senate committee on Thursday started work in earnest to move forward trade pacts with South Korea, Colombia and Panama.
In a "mock" mark-up, both Democratic and Republican members of the Senate Finance Committee agreed to the need for a speedy passage of the implementing bills on bilateral free trade agreements with the nations. The session was part of efforts to ratify the FTAs before Congress enters summer recess on Aug. 5.
But the rival parties sparred over a proposed renewal of the Trade Adjustment Assistance (TAA) program, aimed at helping workers adversely affected by trade.
President Barack Obama has attached the TAA to the bill on the FTA with South Korea. Democratic senators called for the extension of the program, saying it has been a bipartisan topic for decades.
Republican members, who views the US$1 billion-a-year TAA as a duplication of dozens of other employment assistance programs, claimed the issue should be handled separately with the urgent FTA.
Sen. John Cornyn (R-Texas) criticized the Democrats for "continuing to move the goal post."
Sen. Orrin Hatch (R-Utah) said he would offer an amendment to remove the TAA from the free trade accord with South Korea, signed in 2007.
Congress holds such a mock markup under the Trade Promotion Authority Act, also known as "fast track" procedures, so that related committees can recommend to the administration the provisions that should be included in the final version of bills.
But any agreed-upon amendments are non-binding and may only be sent back to the White House for consideration. Eventually, the president will send a complete agreement to the Senate and the House of Representatives for an "up or down" vote.
lcd@yna.co.kr
WASHINGTON, July 7 (Yonhap) -- After years of delay, a key U.S. Senate committee on Thursday started work in earnest to move forward trade pacts with South Korea, Colombia and Panama.
In a "mock" mark-up, both Democratic and Republican members of the Senate Finance Committee agreed to the need for a speedy passage of the implementing bills on bilateral free trade agreements with the nations. The session was part of efforts to ratify the FTAs before Congress enters summer recess on Aug. 5.
But the rival parties sparred over a proposed renewal of the Trade Adjustment Assistance (TAA) program, aimed at helping workers adversely affected by trade.
President Barack Obama has attached the TAA to the bill on the FTA with South Korea. Democratic senators called for the extension of the program, saying it has been a bipartisan topic for decades.
Republican members, who views the US$1 billion-a-year TAA as a duplication of dozens of other employment assistance programs, claimed the issue should be handled separately with the urgent FTA.
Sen. John Cornyn (R-Texas) criticized the Democrats for "continuing to move the goal post."
Sen. Orrin Hatch (R-Utah) said he would offer an amendment to remove the TAA from the free trade accord with South Korea, signed in 2007.
Congress holds such a mock markup under the Trade Promotion Authority Act, also known as "fast track" procedures, so that related committees can recommend to the administration the provisions that should be included in the final version of bills.
But any agreed-upon amendments are non-binding and may only be sent back to the White House for consideration. Eventually, the president will send a complete agreement to the Senate and the House of Representatives for an "up or down" vote.
lcd@yna.co.kr
