May 21 (Bloomberg) -- 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.  click here
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...
If you regularly read Ourfuture.org, you know we here at the Campaign for America's Future have been tracking this story, including the AFL-CIO announcement  and the announcement today by the Populist Caucus  to put major pressure on the White House to stop this NAFTA-style agreement. Indeed, as someone who has been working on this issue for a decade, I never thought I'd actually see the day where we, the progressive movement, could actually make a president back off (even temporarily) the NAFTA trade model.
Hilariously, Sen. Max Baucus (D-MT), the K Street trade lobbyist dressed up as a U.S. Senator , has been relegated to desperation, insisting that we must pass the Panama Free Trade Agreement immediately despite the loophole-riddled pact and despite the country's status as a tax haven because "The Panamanians may back out."- Yes, that's right - Congress must pass this because it is supposed to take orders from the Panamanian government. What a joke.
Where this all goes from here is anyone's guess - it might just be a temporary delay with no change, but it might be something much bigger. Either way, as I've said before , what we're seeing is very real evidence of the potential for major change. You've got a White House retreating, you've got the Congress's chief trade sell-out making laughably absurd arguments, you've got progressive institutions making demands, and you've got rank-and-file Democratic lawmakers insisting on reforms.
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