05 May '11, 4am

South Korea trade pact clears US hurdles

South Korea trade pact clears US hurdles

WASHINGTON : A key holdout in the US Senate has thrown support behind a free trade agreement with South Korea after President Barack Obama's administration pledged new efforts to promote beef exports. Also boosting chances that the long-delayed pact would win approval, the Obama administration indicated further progress on trade deals with Colombia and Panama which the rival Republican Party wants considered at the same time. Senator Max Baucus, who represents the ranching state of Montana and heads the Senate Finance Committee, has pushed for South Korea to remove restrictions that limit imports of US beef to cattle slaughtered at under 30 months. "Our long fight for strong, science-based trade rules around the world to open foreign markets for American ranchers - and keep them open - took big steps forward today," said Baucus, a member of Obama's Democratic Party. "Worki...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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