Free Trade to Gain, Restrictions Ease in New Congress, UPS Says

Discussion in 'The Latest UPS Headlines' started by cheryl, Nov 4, 2010.

  1. cheryl

    cheryl I started this. Staff Member

    Free Trade to Gain, Restrictions Ease in New Congress, UPS Says - Bloomberg

    Scott Davis, chief executive officer of United Parcel Services Inc., says a U.S. campaign season rife with blasts at China and sending jobs abroad masks what the new Congress means for global commerce: a chance to pass long- stalled agreements to remove trade restrictions.

    Before the election, “no one is going to go out there and support free trade because it doesn’t play well at home,” Davis, a member of President Barack Obama’s export council, said in an interview Oct. 22. “There will be more attention to get these agreements going” next year.

    Republicans retook the House of Representatives yesterday with a net gain of at least 60 seats, their biggest increase since 1938. Next year may provide the best chance to pass free- trade agreements with South Korea, Colombia and Panama since they were approved by President George W. Bush in 2007. Obama has shied away from pushing the deals in Congress as drafted amid high unemployment and opposition from some fellow Democrats and labor unions.