Obama says he’ll submit trade deals to Congress ‘as soon as possible’

President Barack Obama said Wednesday he would submit three controversial trade agreements to Congress “as soon as possible.”

Obama laid out his intentions to finish work on trade deals with South Korea, Panama and Colombia as part of a broader initiative to promote U.S. exports abroad.

The president also announced he would relaunch the President’s Export Council, led by business and labor leaders, to offer advice on how to build U.S. exports. Chief Executive Officers from Ford Motor Co. and Walt Disney will serve on the panel.

“Simply put, export growth leads to job growth and economic growth,” Obama said in prepared remarks that focused on the need to bring about long-term economic stability through expanding U.S. exports.

Obama said he’d instructed U.S. Trade Representative Ron Kirk “to begin discussions to resolve outstanding issues” on a free trade agreement with South Korea before Obama’s visit to Seoul in November.

He said he hoped to resolve that agreement, as well as agreements with Panama and Colombia, for Congress to consider as soon as possible.

“We’re working to resolve outstanding issues with the free trade agreements with those key partners, and we’re focused on submitting them as soon as possible for congressional consideration,” Obama said. 

Democrats are divided over all three deals, but are particularly hesitant about moving forward with the Colombia agreement. The South Korean deal has more support and would be the most important of the agreements for the U.S. economy, but it is opposed by labor groups and Ford.

All three deals have been stalled since Obama became president, leading to criticism from Republicans about his lack of a trade agenda.

Obama has pledged to double U.S. exports over the next decade, which critics have said would be difficult without moving forward with the pending trade deals.

Obama also promoted his restarted export council as a key way to promote trade.

The council will include business and labor leaders alongside administration officials, Obama said, and will be chaired by Boeing President and CEO Jim McNerney and vice chaired by Xerox CEO Ursula Burns, Obama said.

“[T]his is about more than what government can do,” Obama said. “This is about what our businesses can do.”

Obama also talked up other efforts his administration has taken to promote exports, including more trade missions, increased access for companies to the Export-Import Bank, promoting more balanced growth and pursuing trade violations through the World Trade Organization (WTO) and other means.

---