Obama to lay out new framework on trade
Web posted at: 5/22/2009 8:44:51
Source ::: REUTERS
WASHINGTON: President Barack Obama will lay out a new framework on trade in the near future and consult closely with Congress on when to submit a trade pact with Panama, a US trade official said yesterday.
Everett Eissenstat, the assistant US trade representative for Western Hemisphere affairs, told a Senate panel that Obama believes trade is essential to America’s prosperity and had the potential to “lift up” workers around the globe.
“But for trade to accomplish this, trade agreements need to include strong labor and environmental standards, we need to do a better job enforcing our trade agreements, and we need domestic policies to help Americans succeed in an increasingly dynamic economy,” Eissenstat told the Senate Finance Committee.
“The president looks forward to outlining this framework in the very near future,” he said.
An administration official said Obama would be delivering a speech on trade but did not say when. It will be an extension of the trade policy Obama has already outlined, the official, who spoke on condition of anonymity, said. Obama’s framework would emphasize finding common ground between those who promote free trade without regard for the impact on industries or workers, and those who reject the benefits to the economy that are brought by trade, the official said.
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