5 questions answered on the debate over ‘fast track’ and trade
For the first time since 2007, Congress is poised to renew trade promotion authority (TPA), known as “fast track.” Passage of the legislation, expected late afternoon on Wednesday, will be a huge win for President Obama and Republicans, who formed a rare alliance to enact it over the opposition of the majority of Democrats.
Here is a primer on the latest in the trade debate:
Q: Why does Obama want fast track authority?
A:
The new fast-track authority is good for six years and may be used to consider potential agreements from several ongoing trade negotiations. Chief among them is the Trans-Pacific Partnership (TPP), a 12-nation pact with Asia-Pacific nations that is one of the largest trade agreements ever negotiated. TPP is a cornerstone of Obama’s foreign policy agenda with Asia and a top policy priority in his remaining 18 months in office. Obama says it will provide the U.S. a stronger foothold in emerging markets and provide an economic counterbalance to China in the region.
Q: But if it’s a top Obama priority, why are Democrats so opposed?
A:
Democrats have historically been more skeptical of trade agreements, and a lagging U.S. economy and slow wage growth for American workers made it an ever harder sell in the current political climate. Michigan Rep. Sander Levin, a top House Democrat on trade issues, has also said Democrats worry the pending trade agreements will undermine human rights and environmental standards, among other concerns.
Q: So who are the winners?
A:
While the White House may view Wyden as a winner, he also sparked the ire of Democratic activists who are threatening a primary challenge in his reelection bid next year.
Q: And the losers?
A:it can open the door to a full debate on TPP.” Labor unions, who worked hard to keep Democrats in line to defeat TPA, also take a hit with its passage. However, union leaders say it will only serve to motivate union voters at the ballot box.
Q: When will TPP come up for a vote
A:
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