Obama Strikes New Free Trade Deals

    European Union Chief Negotiator for the South Korean deal Ignacio Garcia Bercero,  casting his shadow on a banner, delivers a keynote speech during a seminar, “EU-Korea Free Trade Agreement – Putting the FTA into Practice”, in Seoul, South Korea, Monday, June 20, 2011.  Garcia Bercero says the EU wants its ambitious free trade agreement with South Korea to serve as the model for other deals it is pursuing in Asia.(AP Photo/Ahn Young-joon)

    Ahn Young-joon / AP Photo

    The White House has unveiled a pact to extend free-trade deals with South Korea, Colombia, and Panama. The arrangement will also provide funds to compensate workers whose jobs are shipped overseas. The Obama administration waited to announce the pact, which will bring the extensions forward for a vote in Congress, until Republicans got on board. Under the terms, Congress will vote on the financing for workers who lose their job separately. White House spokesman Jay Carney said the trade extensions will “support tens of thousands of jobs.”

    Read it at The New York Times