By Alexis Stodghill on Dec 6th 2010 4:01PM
Filed under: News, The Economy
From NewsOne:
WASHINGTON– President Barack Obama on Saturday praised a newly sealed trade deal with South Korea as a landmark agreement that promises to boost the domestic auto industry and support tens of thousands of American jobs.
"This agreement shows the U.S. is willing to lead and compete in the global economy," the president told reporters at the White House, calling it a triumph for American workers in fields from farming to aerospace.
The pact, which requires congressional approval, would be the largest since the North American Free Trade Agreement with Canada and Mexico in 1994. Obama said the South Korean deal would support at least 70,000 American jobs – welcome news with the latest unemployment figures showing nearly stagnant job growth. The president said that jobs report showed more needed to be done.
"Essential to that is opening new markets around the world to products that are made in America," Obama said. "Because we don't simply want to be an economy that consumes other countries' goods."
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Recent Obama Photos
President Barack Obama is greeted on the tarmac during his arrival at Greensboro, N.C., Monday, Dec. 6, 2010.
AP Photo/Pablo Martinez Monsivais
AP
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Recent Obama Photos
President Barack Obama is introduced to the troops by NATO Commander in Afghanistan Gen David Petraeus at a rally during an unannounced visit at Bagram Air Field in Afghanistan, Friday, Dec. 3, 2010.
Recent Obama Photos
President Barack Obama is greeted on the tarmac during his arrival at Greensboro, N.C., Monday, Dec. 6, 2010.
Recent Obama Photos
President Barack Obama smiles after looking through a microscope as he tours a biotech classroom at Forsyth Technical Community College in Winston-Salem, North Carolina, on December 6, 2010. AFP PHOTO/Saul LOEB
Recent Obama Photos
President Barack Obama tours a biotech classroom at Forsyth Technical Community College in Winston-Salem, North Carolina, December 6, 2010.
Recent Obama Photos
President Barack Obama returns to the White House in Washington, Monday, Dec. 6, 2010, after a short trip to Winston-Salem, N.C., to focus on jobs and the economy.
Recent Obama Photos
President Barack Obama (2nd L) and First Lady Michelle Obama (L) arrive to make remarks in the East Room of the White House in Washington, DC, December 5, 2010, during the Kennedy Center Honorees Reception. Recipients to be honored at the 33rd annual national celebration of the arts are: singer and songwriter Merle Haggard; composer and lyricist Jerry Herman; dancer, choreographer and director Bill T. Jones; songwriter and musician Paul McCartney; and producer, television host and actress Oprah Winfrey.
Recent Obama Photos
President Barack Obama, together with U.S. Trade Representative Ron Kirk, left, and Deputy National Security Adviser Michael Froman, right, makes a statement about the US-Korea Free Trade Agreement on Saturday, Dec. 4, 2010, in Washington.
Recent Obama Photos
US President Barack Obama speaks on the economy at Forsyth Technical Community College in Winston-Salem, North Carolina, on December 6, 2010.
Recent Obama Photos
President Barack Obama walks from Marine One December 6, 2010 on the South Lawn upon return to the White House in Washington. Obama returned to Washington after a visit to North Carolina.
Recent Obama Photos
President Barack Obama greets visitors upon arrival at Piedmont Triad International Airport in Greensboro, N.C., Monday, Dec. 6, 2010.
Recent Obama Photos
He said U.S. automakers would gain greater access to the expanding South Korean market. "It will continue to ensure a level playing field for American automakers here at home," he added.
Exports of U.S. goods to South Korea could soar to $10 billion under the deal, which won rare praise for Obama from the U.S. Chamber of Commerce as well as some Republicans. The pact originally was negotiated under George W. Bush's administration but had stalled.
Please read the rest on NewsOne.
Question:
-Do you agree with this proposed trade agreement?
Leave your comments below! 
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