Obama: Trade agreements would boost auto imports

President Obama pushed Congress Wednesday to pass several pending trade agreements by saying they would boost the resurgent U.S. auto industry.

A deal was reached this week to allow a Senate committee to begin debating the agreements with South Korea, Colombia and Panama. During a news conference Wednesday, Obama said the deals would improve sales of American autos abroad at a time when the Detroit-based companies have started to turn around their operations.

"The reason I want to get these trade deals done is because you see a whole bunch of Korean cars here in the United States and you don't see any American cars in Korea," Obama said Wednesday. 

The agreement with Columbia would provide for duty-free U.S. exports, while the Panama deal would eliminate tariffs on 68 of Panama's agricultural lines. The Korea agreement is expected to produce up to $1.9 billion annually for the agricultural industry.

The Obama administration has sought to turn the improvement of the auto industry into a political advantage for the president as he begins his bid for reelection in 2012. The federal bailouts for Chrysler and General Motors began under former President George W. Bush, but Obama has been heavily criticized for them.