U.S. signs trade deal with S. Korea
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The United States and South Korea signed a free-trade agreement that reflects U.S. calls for stricter labor and environmental standards, meeting a deadline under President Bush’s expiring special trade powers.
That “fast track” authority prevents lawmakers from amending the deal before voting on it. It requires approval by lawmakers in both countries.
The pact would eliminate and lower tariffs and other trade barriers in a wide range of industrial goods and services, including automobiles, agricultural products and financial services.
The U.S. also reached free- trade deals with Colombia, Panama and Peru before the deadline.
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