Happily, the US and South Korea reached a breakthrough on the trade agreement that the Bush administration had already signed, but which the Obama administration insisted on renegotiating. Perhaps this will undo some of the damage done to American credibility by Obama’s failure to make good on a promise to finalize negotiations in time for last month’s G-20 meeting. Next year Congress could ratify the agreement — and maybe more:
Moving forward on the South Korea agreement could also provide momentum for the other trade deals held over from the previous administration, with Colombia and Panama.
Another senior official said the administration could make a decision early next year about when to submit all three agreements to Congress.
[Chuck] Dittrich, of the National Foreign Trade Council, said he hopes the administration seizes the opportunity. “I think that there’s a momentum for a proactive trade agenda,” he said.