( CNN ) -- Mitt Romney stated Monday that President Barack Obama `` has not signed one new free-trade agreement in the past four years . '' `` I 'll reverse that failure , '' the Republican presidential nominee said . But is his assertion true ? The facts : . While he angered his allies in organized labor , Obama secured congressional approval of free-trade deals with Colombia , Panama and South Korea , and signed them in October 2011 . The term `` new '' in Romney 's remarks concerning trade deals appears to be a reference to the fact that work on the three separate trade agreements began in 2007 , when George W. Bush was president . But it was Obama who re-negotiated the passage of the three deals with a Congress that has been identified more for its legislative gridlock , than its passage of such deals . Fact Check : Was Obama 'silent ' on Iran 2009 protests ? `` It takes a lot of capital to get trade deals through Congress , and it 's particularly tough to do when the economy is weak , '' said Gary Hufbauer , senior fellow at Peterson Institute for International Economics . In a rare moment of bipartisanship in Washington , House Speaker John Boehner , R-Ohio , issued a statement on the day Obama signed the agreement saying `` years of perseverance have been rewarded today as American job creators will have new opportunities to expand and hire as they access new markets abroad . '' Obama re-negotiated aspects of the deal with South Korea to secure additional market access for U.S. auto manufacturers . He also added language into the deal with Colombia to protect the rights of Colombian workers , and addressed concerns with tax transparency in Panama . Speaking with reporters Monday aboard Air Force One as the president traveled to California , a spokeswoman for the Obama campaign challenged Romney 's assertion that Obama had not signed a `` new '' free-trade agreement . `` That is not only absurd , it 's inaccurate , '' said Jen Psaki , traveling press secretary for the Obama campaign . `` He 's basing it on an absurd premise that President Bush signed a couple of trade agreements , but the fact remains that the president renegotiated the trade agreements -- made them better for American workers , made them better for the American auto industry and the American meat industry -- and that 's why we not only got them through Congress , but the president actually signed them into law . '' Fact Check : Did Obama say he wants 'daylight ' between U.S. , Israel ? In addition to the three trade agreements , Obama has continued the Bush administration 's effort to form a trans-Pacific free-trade zone , which would include up to 11 economies across the Asia-Pacific region . The fourteenth round of negotiations for the proposed zone took place last month in Leesburg , Virginia , with another round scheduled to take place in New Zealand in December . The administration has said its goal in continuing the negotiations is to support the creation of jobs in the United States , and an increase in exports to a region that represents more than 40 % of global trade . The Obama administration is also exploring the possibility of free-trade talks with the 27-nation European Union . A decision on whether to launch such negotiations is expected soon . An economist who follows trade policy , though , says that pursuing free-trade deals does not appear to be a top priority of the Obama administration . Administration officials are `` not very enthusiastic '' about negotiating new free-trade agreements in the current political environment , according to Barry Bosworth , a senior fellow in economic studies at the Brookings Institution , a nonpartisan Washington think tank . Fact Check : Romney 's comparison of past , present Navy pointless . With the expiration of fast-track trade negotiation authority in 2007 , any agreement started by the administration would go through an amendments process , as opposed to a straight up-or-down vote in the Senate . In the absence of fast-track authority , no country would put their best offers forward in negotiations with the executive branch if that would only be amended as it traveled through both houses of Congress , said Bosworth . `` Neither side trusts the other when it comes to trade '' in today 's polarized political environment , so movement is not likely as long as the executive and legislative branches are controlled by different parties , added Bosworth . Conclusion : . While President Obama continued trade agreements begun under the previous administration , it is not accurate to assert that Obama has not signed any free trade agreements when , in fact , he has done so with South Korea , Panama and Colombia . Complete coverage of CNN 's Fact Checks .
Mitt Romney says Obama `` has not signed one new free-trade agreement '' An Obama spokeswoman calls that statement `` absurd '' and `` inaccurate '' Obama signed a free trade deal in 2011 , based on talks that began years earlier . The president re-negotiated pacts with Panama , Colombia and South Korea .