Bravo, Mr President!

Phil Levy points out:

For the second time in a week, the Obama administration has discarded a major campaign pledge on international economic policy. In its decision last week not to name China a currency manipulator, and now to forswear renegotiation of NAFTA, the administration avoided two potentially costly mistakes.

I am delighted. My biggest fear about international economic policy was that the President might actually follow through on his campaign rhetoric. So this news is a great relief.