Obama Backs Off Panama Trade Agreement after Populist Pressure

Amazing but true, sometimes public opinion actually has a minor twinge. Obama backs off Panama Trade agreement:

A U.S. trade accord with Panama, which is opposed by labor unions, won’t be submitted to Congress for approval until President Barack Obama offers a new “framework” for trade, an administration official said.

The decision, announced by Assistant U.S. Trade Representative Everett Eissenstat at a Senate Finance Committee hearing today, is a reversal from statements in March that the U.S. wanted to pass the accord soon. Eissenstat said today the administration wants to outline how trade fits with other priorities such as assistance for unemployed workers and health care.

Sirota is reporting this is the work of the Congressional Populist caucus (hey, great name!) and has more on Open Left.

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