Barack Obama - Trade Policy
Summary
Since 2004, Barack Obama has remained opposed to free trade agreements such as NAFTA and CAFTA. When questioned about this opposition, Senator and President Obama has stated that his opposition stems from the unfair nature of the agreements in that other countries in the agreement do not abide by environmental and labor portions in the agreement. In his memoirs, State Senator Obama stated that protectionist tariffs can have a short term benefit, but have long term detrimental effects.
When asked if he would push for a repeal of NAFTA, Senator Obama repeatedly asserted that he would use the economic power of the US to force the nations to renegotiate the agreement. He stopped short of ending the agreement.
In 2010, President Obama attempted to finalize negotiations with the South Korean Free Trade Agreement, which was inherited from the Bush Administration. The South Koreans refused to loosen their environmental standards to allow the sale of foreign cars and refused to lift a ban on some American beef. President Obama would not agree to the conditions and the deal was not finalized.
Campaign Event - AFL-CIO
In May of 2007, Senator Obama appeared at an AFL-CIO forum in the beginning of the 2008 Presidential campaign. He was asked about NAFTA and how the people could trust him when it was a previous Democratic President that passed NAFTA.
Obama - Keyes Debate
In 2004, Barack Obama was campaigning for the US Senate seat in Illinois. In a radio debate with Ambassador Alan Keyes, he spoke about the US trade policy.
The Audacity of Hope
In one of his books, The Audacity of Hope, President Obama states that the level of technology and the integration of societies makes it virtually impossible for the US to enact isolationist economic policies. He notes late protectionist tariffs would only cause harm to US manufacturers in the long run.
Obama - Clinton Debate
In 2008, Senator Obama and Senator Clinton debated the results of NAFTA and whether or not they would opt out of NAFTA. Senator Obama stated that while some trade deals can be beneficial to the US, NAFTA was bad. He stated that NAFTA should be renegotiated under the threat of an opt-out, but he would not opt-out of the agreement.
Criticism of NAFTA
In February of 2008, Senator Obama was campaigning against Senator Clinton for the Presidency and spoke about his opposition to NAFTA and his belief that it has been detrimental to the US economy. Despite stating that the agreement had caused thousands of lost jobs, he said that repealing the agreement would result in a larger job loss.
While speaking at a campaign event in February of 2008, President Obama was critical of NAFTA and other free trade agreements. He noted that he was critical of the agreement prior to running for the Presidency.
In November of 2008, Senator Obama spoke about NAFTA during several debates. He stated that he opposed the agreement because enforceable measures were not present to ensure the labor and environmental standards that the US was held to, were present in Mexico.
South Korean Free Trade Agreement
Upon entering office, President Obama inherited a pending trade deal with South Korea which was initiated by President Bush. In November of 2010, President Obama traveled to South Korea to further negotiate the agreement and possibly complete it within weeks. He issued a letter in anticipation of the deal.
The two main areas of concern were cattle and cars. South Korea enjoys no restrictions in selling it's cars in the US, but has environmental standards which are more strict than US standards and would force US automakers to reconfigure their models before they could be sold in South Korea. South Korea also does not allow cattle which was slaughtered when it was more than 30 months old to be sold in that country - a reaction to the mad cow disease.
Unfortunately, negotiations failed to produce a final version of the agreement that both sides were happy with and further negotiations were planned for the future.
Voting Record
Oman Free Trade Agreement
In June of 2006, the Senate passed the Oman Free Trade Agreement 60-34. The agreement conferred free trade status with the country of Oman in the middle-east. Barack Obama voted in favor of the Oman Free Trade Agreement.
Barack Obama voted in favor of the Oman Free Trade Agreement.
Central American Free Trade Agreement (CAFTA)
In July of 2005, the Central American Free Trade Agreement was passed by the Senate 55-45. The agreement opened free trade agreements with the Dominican Republic, El Salvador, Costa Rica, Guatemala, Honduras, and Nicaragua. Barack Obama voted against CAFTA.
Barack Obama voted against CAFTA.
Sponsored and Cosponsored Legislation
This representative has not been identified as sponsoring or cosponsoring significant legislation related to this title.
References
[1] Website: ABC News Article: Obama Knocks Clinton, But Wouldn't Ax NAFTA Author: JAKE TAPPER Accessed on: 11/22/2010
[2] Website: The Economist Article: Obama is the free trader free traders have been waiting for Author: The Economist - Blog Accessed on: 11/22/2010
[3] Website: The Washington Post Article: U.S., South Korea fail to reach free-trade deal Author: Howard Schneider and Scott Wilson Accessed on: 11/22/2010