Obama: Trade agreements would boost auto imports

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.