There aren’t many opportunities these days for bipartisan agreement or for quick boosts to the flagging economy. But the passage of the South Korea free trade agreement would be both. The Washington Post reminds us:

For three years, since it was negotiated by the Bush administration, the free-trade agreement has languished in Congress. Now trade officials from both countries are trying to resolve the problems that have kept it bottled up, including a dispute over U.S. access to the South Korean auto market and restrictions on U.S. beef imposed after the mad cow scare several years ago.

The agreement would eventually eliminate tariffs between the two countries. Because those levies are typically higher on the South Korean side, administration officials estimate the deal could mean more than $10 billion annually in increased U.S. exports to Seoul and tens of thousands of new U.S. jobs. South Koreans say they would benefit from lower prices — some tariffs on food imports from the U.S. are as high as 40 percent — and a more efficient flow of investment in and out of their country.

This is such an obvious no-brainer that the only explanation for the failure to move forward must be and, in fact, is political: the power of Big Labor, specifically. When running for the nomination, Obama naturally voiced concerns about the agreement. But once safely in office he has of late “placed a priority on export promotion, calling it a key to job growth, and embraced the agreement with South Korea as a opportunity to weigh in on the broader debate over trade policy and advance U.S. interests.” He even dispatched his trade representative to drum up support around the country.

Yet it is far from clear that the agreement will be approved. Free trade is simply an anathema with many elected Democrats. (“Unions, environmental advocacy groups, and other organizations, meanwhile, are urging Obama to keep his campaign promises and stiffen the terms for South Korean access to the U.S. market.”)

This would be an opportunity for Obama to stand up to special interests, the Democrats in Congress to do the same, and both parties to claim credit for a pro-jobs measure. So, naturally, the safe bet is that nothing will get done.