Chief executive officers of Microsoft Corp., General Electric Co., Wal-Mart Stores Inc. and other large U.S. companies urged President Barack Obama to move quickly on his pledge to pass a free-trade agreement with Korea.
“Decisive and quick progress on the Korea agreement is especially vital given that the European Union and Korea have signed their own trade pact which, once implemented, will put U.S. companies and their workers at an even greater disadvantage,” the executives wrote in a letter to Obama Wednesday.
The letter was signed by Microsoft’s Steve Ballmer, Jeffrey Immelt of GE, Wal-Mart’s Michael Duke and eight other chief executives. The pending agreement with Korea, which was signed in 2007, is opposed by unions and Ford Motor Co., which argues that the Asian nation keeps unfair technical barriers on its exports while enjoying free access to the U.S. market.
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| Korean ambassador Han Duck-soo(left) and Harold McGraw III Chairman, CEO of the McGraw-Hill Companies (right) |
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