The White House took some time to celebrate the recent trade pact struck with S. Korea at Thursday night’s State Dinner, where President Obama hosted South Korean President Lee Myung-bak and praised the pact for its effect on both countries’ economies. It would “boost American exports by up to $11 billion and support some 70,000 American jobs,” said Obama, adding that the agreement also “keeps us on track to achieve my goals of doubling American exports.”
Lee was in town attending multiple meetings with the president and giving a special address to Congress, but the pomp and circumstance were a long time coming, with the two nations having suffered a years-long lull in renewing trade agreements that would increase U.S. exports. Senate Minority Leader Mitch McConnell noted the lull after the agreements finally passed both houses with bipartisan support. “They’re a good start. Three years too late. But still important to do,” McConnell said Wednesday.
