Senate moves toward action on trade deals

WASHINGTON (Reuters) - The Senate began debate on Monday on a bill that waives tariffs on goods from developing countries in a step aimed at moving Congress closer to approval of three long-delayed trade deals.

The Senate voted 84-8 to overcome efforts to block action on a bill to renew the Generalized System of Preferences, which dates back to the early 1970s and waives duties on thousands of goods from poor countries to help spur development.

The vote clears the way for potentially several days of debate on the legislation, which the House approved earlier this month on a voice vote.

Supporters of free trade agreements with South Korea, Colombia and Panama hope the Senate action will help set the stage for President Barack Obama to formally submit the pacts to Congress for votes.

(Reporting by Doug Palmer; Editing by Peter Cooney)

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Source: http://www.huffingtonpost.com/2011/09/19/senate-moves-toward-actio_n_970771.html

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