Financial Daily from THE HINDU group of publications
Saturday, Mar 19, 2005

News
Features
Stocks
Port Info
Archives
Google

Group Sites

Industry & Economy - Foreign Trade


Bush selects Portman as Trade Representative

Sridhar Krishnaswami

Washington , March 18

THE US President Mr George W. Bush has selected Ohio Republican Congressman Mr Rob Portman as his top trade negotiator to succeed Mr Robert Zoellick who has moved over to the Foggy Bottom to be the Deputy Secretary of State.

Mr Bush said that he was asking Mr Portman to pursue a broad agenda that included getting Congressional nod for a Free Trade Agreement with six Latin American countries and the successful completion of global trade talks.

"Mr Rob is the right man to carry out this agenda. He understands that trade creates jobs, raises living standards and lowers prices for families here at home,'' Mr Bush said in a White House ceremony.

"Open markets and better trade relations are key components to a more peaceful, a more stable and a more prosperous world,'' Mr Portman remarked.

The Ohio lawmaker will have to get the endorsement of the Senate but his confirmation is not expected to face any difficulty and much of this has been passed off on the personality and his style of functioning on Capitol Hill in the 12 years he has been there.

The charm offensives on Capitol Hill and elsewhere apart, Mr Portman does indeed have a challenging assignment ahead as Democrats have not failed to remind this Bush administration that the country's trade deficits are the contributing factor to the loss of manufacturing jobs.

The trade deficit was an all-time high of about $617 billion last year and some three million manufacturing jobs have been lost since mid-2000.

The Republican administration is also waiting for Congressional action on the Free Trade Agreement with the Dominican Republic and five other Central American nations. This is yet to come up for a formal vote as Democrats are not sure if the deal gives enough protection for American workers from low wage nations and if sufficient environmental protections have been put in place.

In a larger scheme of things, analysts have reminded Mr Portman that he faces a tough road ahead as it pertains to the Doha Round especially in the realm of agriculture, for the developing world is insisting that rich nations such as the US and others have to come to terms with farm subsidies.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page


Stories in this Section
Elusive white-collars


ISRO tech pact to make auto weather stations
ONGC, HPCL, Reliance bet big on wind energy
Consumer electronics majors not to cut prices post-VAT
Inflation up on costlier manufactured products
Dornier Consulting submits proposals to woo investment in TN
Unspent funds with Govt not readily available
Phase out mercury thermometers: NGO
Central team to go into plea for Sabarimala forestland
Bill to amend AP Excise Act
Bush selects Portman as Trade Representative
`US, EU should switch over to ad valorem duty'
Should `dream' products attract disclosure norms?
Baby products safe, says J&J
ONGC to develop western offshore block
GAIL may share Kochi LNG terminal capacity
TCS packages for pharma sector
VAT tool for medical retail
Drug makers demand cut in excise duty
Coal shortage: NTPC units in critical stage
States opting for VAT may not get full compensation
VAT woes for poultry sector
Export cess hits chilli, turmeric
VAT the heck?
Kerala Govt to take up water shortfall issue with TN
`Tap water sources to curb crisis'
Jamnalal Bajaj alumni meet today
Prasar Bharati sends legal notice to channels on cricket footage
Course in electromagnetic waves
Construction cos sitting on orders worth Rs 40,000 cr
Two-thirds of construction cos based in AP
HZL hikes zinc prices, cuts lead
Textile engg industry sees 25 pc rise in production
DRDO labs to have digital library network
G-20 to stay united against pressure
Medical reps oppose Patents Act change
Amended Patents Bill introduced in LS — Left, BJP seek more changes
Capital One puts IIM-K on global recruitment map
BSNL strike: Mobile players seek TRAI intervention
Jewellers Association to organise VAT seminar in Bangalore
Commonwealth scholars' meet in Mangalore on March 19
In Hyderabad today
Coir exports set to top Rs 450-cr target
Govt scraps cess on coffee exports
Hyundai India Managing Director shifted to INI Steel


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line