South Korea trade pact gives Obama a victory

WASHINGTON – President Barack Obama’s first major trade deal moved forward Friday as White House negotiators successfully concluded a long-stalled agreement with South Korea.

The accord, which includes South Korean concessions for U.S. automakers, will supplement the trade agreement that the Bush administration negotiated to conclusion with South Korea but which the Democratic-controlled Congress never acted on.

Obama had taken heat for his failure to seal the agreement during his trip to Seoul last month. U.S. automakers and beef exporters opposed the agreement on grounds that it didn’t do enough to knock down barriers to U.S. exports. The accord addresses those concerns.

“American manufacturers of cars and trucks will gain more access to the Korean market and a level playing field to take advantage of that access,” Obama said. “We are strengthening our ability to create and defend manufacturing jobs in the United States; increasing exports of agricultural products for American farmers and ranchers; and opening Korea’s services market to American companies.”

However, a potentially significant obstacle arose Friday when Sen. Max Baucus, D-Mont., who hails from a ranching state, said the agreement doesn’t do enough to protect American beef producers. He’s also the chairman of the Senate Finance Committee, which has jurisdiction over trade pacts.

But Senate Minority Leader Mitch McConnell, R-Ky., vowed to help Obama pass it.