House Trade Subcommittee to Hold KORUS FTA Hearing on April 7
The House Ways and Means Committee’s Trade Subcommittee will hold the third in its series of hearings on the pending free trade agreements with Colombia, Panama, and South Korea. The focus of the third hearing, scheduled for April 7, 2011, is the pending FTA with Korea (KORUS FTA).
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(The Trade Subcommittee’s first hearing was held on March 17, 2011 and covered the Colombia FTA. The second hearing was held March 30, 2011 and covered the Panama FTA. See ITT’s Online Archives or 03/18/11 and 03/31/11 news, 11031810 and 11033123, for BP summaries of the Trade Subcommittee’s hearings on Colombia and Panama.)
Hearing to Address Economic, National Security Implications of KORUS FTA
The focus of the hearing is on Congressional consideration of the KORUS FTA. The hearing will address the economic benefits this agreement will bring to American businesses, farmers, workers, consumers, and the U.S. economy. In addition, the hearing will examine the national security and geopolitical implications of the agreement and will explore developments within South Korea that have occurred since the trade agreement was concluded.
Technical Discussions on KORUS FTA Implementing Bill Are Ongoing
On March 7, 2011, House Ways and Means Committee Chairman Camp (R) agreed to U.S. Trade Representative Kirk’s written request to begin technical discussions on the draft implementing bill. Technical discussions are ongoing.
However, on March 31, 2011, Trade Subcommittee Ranking Member McDermott (D) expressed disappointment with the slow pace of congressional consideration of the KORUS FTA and encouraged the scheduling of a mock mark up for the KORUS FTA as soon as possible.
Written comments are due by April 7, 2011.
(See ITT’s Online Archives or 03/17/11 news, 11031703, for BP summary about nine Representatives who have announced their opposition to the KORUS FTA.
See ITT’s Online Archives or 03/15/11 news, 11031502, for BP summary of letter from 44 Senate Republicans saying until the President submits all three pending FTAs, they will use all the tools at their disposal to force action, including withholding support for any nominee for Commerce Secretary and any other trade-related nominees.
See ITT’s Online Archives or 03/14/11 news, 11031401, for BP summary about Senator Lugar’s threat to block the KORUS FTA unless the Colombia and Panama FTAs are submitted.
See ITT’s Online Archives or 03/08/11 news, 11030824, for BP summary on the USTR’s announcement that the Administration was ready to begin technical discussions with Congress on the KORUS FTA draft implementing bill and draft Statement of Administrative Action as of March 8, 2011.)