Obama Notifies Congress of Asia-Pacific Trade Pact Intentions

[pampango]

Source: NY Times

U.S. trade officials have formally notified the U.S. Congress of President Barack Obama’s intention to negotiate a regional free trade deal with Vietnam, New Zealand, Singapore, Chile and three other countries in the Asia-Pacific region. The action Monday came with the future of the eight-year-old Doha round of world trade talks in doubt.

Also, Mr. Obama is delaying, because of concerns from his Democratic Party, the submission to Congress of trade deals with Colombia, Panama and South Korea that were negotiated by his predecessor, George W. Bush.

It also “provides an opportunity to develop a new model for U.S. trade negotiations and a new regional approach that focuses more on jobs, enhances U.S. competitiveness and ensures that the benefits of our trade agreements are shared by all Americans,” Mr. Kirk said in a letter to congressional leaders.

Mr. Obama, in his first major trade initiative since taking office, announced last month in Tokyo that the United States would negotiate to join the Trans-Pacific Partnership, which already includes Chile, Singapore, New Zealand and Brunei. Australia, Peru and Vietnam also want to join the pact, which the United States hopes will eventually be expanded to additional countries in the Asia-Pacific region, Mr. Kirk said. The eight countries are expected to hold the first round of negotiations on the agreement in March. Many believe there is an informal goal of reaching a deal by the time Mr. Obama is host to Asia-Pacific leaders in Honolulu in late 2011.

Read more: http://www.nytimes.com/2009/12/16/business/global/16trade.html

---

We already have agreements with three of the seven, Australia, Singapore and Chile. The new ones would be New Zealand, Vietnam, Peru, and Brunei.

It will be interesting to see what Obama sees as a "new model for U.S. trade negotiations" that "focuses more on jobs, enhances U.S. competitiveness and ensures that the benefits of our trade agreements are shared by all Americans". Apparently he's not submitting Bush's agreements to Congress, so he must at least know what he DOESN'T want his agreements to look like.

[fasttense]

1. What happened to the campaign promise to renegotiate NAFTA? n/t

[nyy1998]

2. He backed off in the general elections

[Romulox]

4. He didn't "back off"--he and Austan Goolsbee got caught red handed in a lie

(and it happened during the primaries) :hi:

[PSPS]

3. The stock reply on DU is, "but he's only been in office (fill in time in office)"

[Romulox]

5. The President has little respect for the electorate, if he thinks we've forgotten his NAFTA

duplicity... :hi: