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Obama: Korean Trade Agreement Finalized

But not everyone is happy with the news that Obama is moving forward with a Bush-era trade pact.

Rep. Mike Michaud, who chairs the House Trade Working Group and is seeking an overhaul of U.S. trade policy, said he had “hoped for more from this White House, which campaigned on a need to change the way we negotiate trade agreements so that they truly benefit American workers and businesses. The deal reached today, while beneficial to the auto industry, falls far short of that goal.”

When the pact comes to the floor for a vote, the Maine Democrat said, “I will work with allies on Capitol Hill to do whatever I can to defeat it.”

Leaders of public interest groups also framed the trade deal as a major political and policy mistake.

“The U.S. Chamber of Commerce and GOP congressional leaders must be gleeful that they are getting the Obama administration to take ownership of another Bush NAFTA-style trade deal that would simultaneously favor their job offshoring agenda and put Obama’s re-election in peril,” Lori Wallach of Public Citizen said.

Wallach also held the president to his campaign promises on a trade overhaul and said “merely tweaking the ‘cars and cows’ market access provisions” of the agreement will not help Americans in the long run.

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