Industry News
President Submits U.S.-Colombia FTA to Congress Under TPA
TweetApril 8, 2008
Yesterday, President Bush signed a letter to send Congress legislation that implements the US-Colombia Free Trade Agreement (FTA). This FTA was concluded and signed in February 2006 and negotiations were initiated in May 2004. The time taken to conclude this agreement and bring the implementing language to Congress underscores the divisive nature of the agreement. As the agreement was signed under Trade Promotion Authority, Congress now has 90 days to approve or reject it.
The pact itself is humble –
In the last few weeks, the Bush Administration has taken Congressional members on multiple trips to
Last week, both House Speaker Nancy Pelosi (D-CA), and Senate Finance Committee Chairman Max Baucus (D-MT) separately warned the White House against sending the implementing bill to Congress. Baucus’ views on the trade agreement has been widely reported – he would like to move forward only after a new and expanded Trade Adjustment Assistance (TAA) plan is in place. With the slowdown in the economy, a democratic majority in the House and election year campaigning, the US-Colombia FTA faces an uncertain future on Capitol Hill.