While there may be certain sections of Malaysia who rejoiced when trade talks broke down between US and Malaysia earlier this year, those who believe that a free trade agreement will eventually be beneficial to Malaysia's economy and progress in a globalised world should be aware that it seems remarkably unlikely that a trade deal will ever be signed now - especially one that will be 'fairer' eg, letting Malaysia's protectionist discriminatory policies stand.

Malaysians may have naively thought that we are the only ones that need to agree to the deal, that the US will always be waiting with their pen ready as long as we get them to drop their resistance to certain policies. But not many seem to be aware of the fact that what happens in the political reality in Washington will influence terms as much, if not more, than anything that can happen here in Kuala Lumpur.

Many may not be fans of President George W Bush for his foreign policy but it is widely agreed that his trade policies have been one of the brighter areas of his administration. Granted, I'm not aware of the details of the US-Malaysia deal since very little is actually written in a factual way about it in our newspapers, but it was surely Malaysia's best opportunity to sign an agreement when the Bush administration had their fast-track trade advantage.

Once the fast-track advantage expired, Bush could no longer present an agreement to the US Congress for an up-down vote. It seems to me that Malaysia will never get a better chance to sign an agreement again. With the Democratic congress now in session and unlikely to change anytime soon, expect little chance of any agreement being approved, particularly one that is considered 'fairer'.

With protectionist-minded leaders like US House speaker Nancy Pelosi and Charlie Rangel in charge, they will surely strike down any deal or try to add amendments to any potential deal that will surely sink it. In other words, Bush won't even try to present a deal to Congress, what with his limited political capital. He would have to carefully choose what he can do for the remainder of his term.

So forget about the US even approaching us with another deal. And with the Democratic presidential candidates parroting a more protectionist line, the reality for free trade seems bleak indeed.

So Malaysia and US have blown their chance at signing a free trade deal. Whether that is good or bad remains to be seen. I suspect the latter.