Business group backs compromise on trade deals

U.S. Chamber of Commerce President and CEO Thomas Donohue speaks in his annual State of American Business address at the Chamber of Commerce in Washington January 11, 2011.

WASHINGTON (Reuters) - The U.S. Chamber of Commerce on Tuesday urged Republicans and Democrats to support what it called a "reasonable compromise" to move long-delayed trade deals with South Korea, Panama and Colombia.

"For members of Congress who care about American jobs, this is a moment of truth," the business group's president, Thomas Donohue, said in a statement. "I urge members of both parties to seize a reasonable compromise and move the trade agenda forward. The time to act is now."

Some Republicans have objected to the plan to include a renewal of retraining program for workers who have lost their jobs because of trade into the implementing legislation for the South Korean trade deal.

(Reporting by Doug Palmer; editing by Will Dunham)