Obama May Delay Nafta Overhaul In Victory For Caterpillar, GE

Bloomberg News:

Barack Obama, who threatened during the presidential campaign to withdraw from the North American Free Trade Agreement unless he could renegotiate it, may delay reworking the accord as he focuses on the U.S. economic crisis.

After he becomes president in January, Obama will order a study on the world's largest trade agreement, then seek longer- term negotiations with Mexico and Canada on how to change it, according to three advisers, who spoke on condition that they not be identified. A delay would be a victory for companies such as Caterpillar Inc., General Electric Co. and Citigroup Inc., which have tried to head off protectionism in the U.S.

Read the whole story: Bloomberg News