President Obama will be in southeast Michigan today to promote a new free trade agreement with South Korea. President Obama is scheduled to tour General Motor’s assembly plant in Lake Orion. South Korea’s president will accompany Obama.
Congress this week approved a new free trade agreement with South Korea. South Korea is the world’s 13th largest economy.
The free trade pact is the largest such deal since the North American Free Trade Agreement with Canada and Mexico in the mid-90’s.
Originally negotiated by the Bush administration, the trade deal was modified to provide U.S. automakers access to South Korea’s auto markets. Congress also approved free trade deals with Colombia and Panama this week.