Globalization: Spate of Trade Deals Move Toward Passage

With Republicans in control of the House of Representatives, the Obama administration focused on the economy and global corporations wheeling and dealing again, globalization is revving up.

U.S.: Spate of Trade Deals Move Toward Passage - IPS ipsnews.net: "On the heels of U.S. President Barack Obama's State of the Union address Tuesday in which he focused squarely on resuscitating the economy, pressure is mounting in the nation's capital to move forward with free trade agreements (FTAs) whose passage would promote exports and create jobs.

In his address, Obama urged Congress to act on pending trade pacts with South Korea, Colombia and Panama. On Friday, U.S. Secretary of State Hillary Clinton said that the administration plans to submit the U.S.-Colombia FTA to Congress this year. Obama did not initially set a timetable in Tuesday's speech. ...

On Tuesday, the House Committee on Ways and Means held a hearing on the three FTAs. Chairperson Rep. Dave Camp pushed for a Jul. 1 deadline. "Implementation of their agreements and continued inaction on our agreements will result in further missed opportunities to create U.S. jobs," he said in a statement.

"Other major economies, including the E.U. and Canada, have signed, or are poised to sign, agreements with Colombia, Panama, and South Korea," he explained. "America cannot afford to fall further behind and by standing still, we are doing just that." "