The pending free-trade agreements with South Korea, Panama and Colombia are gaining traction, and it all goes well, they should be reach Congress by mid-summer, according to the U.S. Meat Export Federation.
Phil Seng, USMEF president and chief executive officer, says all three of the trade deals are crucial to helping the U.S. economy.
“We really hope the administration will be able to get these agreements approved, because they estimate it’s going to be $80 billion as far as what that could mean to trade with South Korea. With the state of U.S. economy, anytime that we can actually participate in and increase trade and growth, this is significant for us,” says Seng.
He acknowledges that some beef issues with South Korea that haven’t been totally resolved, but says that shouldn’t hold up FTA passage.
While Seng would like to see all three FTAs passed at the same time, Obama Administration officials say the FTAs need to be passed separately.