What To Know About Fast-Track Trade Authority

What To Know About Fast-Track Trade Authority
Author: Nick Cardena
Publisher:
Total Pages: 148
Release: 2021-08-03
Genre:
ISBN:

Fast track is an expedited procedure for Congressional consideration of trade agreements. It requires Congress to vote on an agreement without reopening any of its provisions while retaining the ultimate power of voting it up or down. Fast Track facilitated controversial pacts such as NAFTA and the World Trade Organization, which extend beyond traditional tariff-cutting to set constraints on domestic financial, energy, patents and copyright, food safety, immigration, and other policies. Because Fast Track's dramatic shift in the balance of powers between branches of government occurred via an arcane procedural mechanism, it obtained little scrutiny - until recently. This book explains how large multi-national corporations have gotten their way to the detriment of the people by ignoring local environmental and labor laws. The Trans-Pacific-Trade Partnership has been called "NAFTA on steroids."

Fast Track Trade Authority

Fast Track Trade Authority
Author: Colette Teto
Publisher:
Total Pages: 148
Release: 2021-08-03
Genre:
ISBN:

Fast track is an expedited procedure for Congressional consideration of trade agreements. It requires Congress to vote on an agreement without reopening any of its provisions while retaining the ultimate power of voting it up or down. Fast Track facilitated controversial pacts such as NAFTA and the World Trade Organization, which extend beyond traditional tariff-cutting to set constraints on domestic financial, energy, patents and copyright, food safety, immigration, and other policies. Because Fast Track's dramatic shift in the balance of powers between branches of government occurred via an arcane procedural mechanism, it obtained little scrutiny - until recently. This book explains how large multi-national corporations have gotten their way to the detriment of the people by ignoring local environmental and labor laws. The Trans-Pacific-Trade Partnership has been called "NAFTA on steroids."

More Information On Fast Track Trade Authority

More Information On Fast Track Trade Authority
Author: Hollie Rassman
Publisher:
Total Pages: 148
Release: 2021-08-03
Genre:
ISBN:

Fast track is an expedited procedure for Congressional consideration of trade agreements. It requires Congress to vote on an agreement without reopening any of its provisions while retaining the ultimate power of voting it up or down. Fast Track facilitated controversial pacts such as NAFTA and the World Trade Organization, which extend beyond traditional tariff-cutting to set constraints on domestic financial, energy, patents and copyright, food safety, immigration, and other policies. Because Fast Track's dramatic shift in the balance of powers between branches of government occurred via an arcane procedural mechanism, it obtained little scrutiny - until recently. This book explains how large multi-national corporations have gotten their way to the detriment of the people by ignoring local environmental and labor laws. The Trans-Pacific-Trade Partnership has been called "NAFTA on steroids."

Fast Track: A Legal, Historical, and Political Analysis

Fast Track: A Legal, Historical, and Political Analysis
Author: Hal Shapiro
Publisher: BRILL
Total Pages: 416
Release: 2006-07-19
Genre: Law
ISBN: 9047440005

Fast track was conceived as a mundane procedural mechanism to enhance the president's credibility in negotiating complex multilateral trade agreements by streamlining the congressional approval process into an up-or-down vote in return for enhanced congressional oversight. It allows the President to negotiate international trade agreements knowing that Congress will provide a timely vote on the agreement without amendments. Given its seminal importance to the trade debate, however, fast track has acquired greater significance and controversy. This incisive text examines whether fast track is an evolutionary advancement in U.S. international economic agreements or an end-run around the constitutional treaty provision; whether it is a reflection of the shared constitutional powers of Congress and the President in the area of foreign affairs or an unconstitutional abdication of Congress’s power to regulate foreign commerce and its ability to set its own procedural rules; whether fast track is needed to put the United States on even footing with other nations that have efficient international agreement approval mechanisms or a unique U.S. ratification short-cut not found elsewhere; whether there is a better way for the United States to approve and implement trade agreements; whether the arguments of the left and right on fast track need a new focus; and whether there is a role for the states to play in U.S. trade policy formation. Fast Track argues that the time has come for the United States to end its perennial debate over the process by which we approve international trade agreements – i.e., whether to resort to fast track or not – and begin a debate on how best to prepare American citizens to compete in a globalized world. There are signs that the United States is not ready and may even be falling behind. Without question, this book can help formalize a requisite national strategy. Published under the Transnational Publishers imprint.

Fast-Track Authority

Fast-Track Authority
Author: Levent Çeli̊k (Ph.D.)
Publisher:
Total Pages: 65
Release: 2018
Genre: Commercial policy
ISBN:

A central institution of US trade policy is Fast-Track Authority (FT), by which Congress commits not to amend a trade agreement that is presented to it for ratification, but to subject the agreement to an up-or-down vote. We offer a new interpretation of FT based on a hold-up problem. If the US government negotiates a trade agreement with the government of a smaller economy, as the negotiations proceed, businesses in the partner economy, anticipating the opening of the US market to their goods, may make sunk investments to take advantage of the US market, such as quality upgrades to meet the expectations of the demanding US consumer. As a result, when the time comes for ratification of the agreement, the partner economy will be locked in to the US market in a way it was not previously. At this point, if Congress is able to amend the agreement, the partner country has less bargaining power than it did ex ante, and so Congress can make changes that are adverse to the partner. As a result, if the US wants to convince such a partner country to negotiate a trade deal, it must first commit not to amend the agreement ex post. In this situation, FT is Pareto-improving.

Crs Report for Congress

Crs Report for Congress
Author: Congressional Research Service: The Libr
Publisher: BiblioGov
Total Pages: 22
Release: 2013-11
Genre:
ISBN: 9781293253427

One of the major trade issues in the 107th Congress is whether or not Congress approves trade promotion authority (formerly called fast-track authority) for the President to negotiate trade agreements with expedited procedures for implementing legislation. Under this authority, Congress agrees to consider legislation to implement the trade agreements (usually nontariff trade agreements) under a procedure with mandatory deadlines, no amendment, and limited debate. The President is required to consult with congressional committees during negotiation and notify Congress before entering into an agreement. The President was granted this authority almost continuously from 1974 to 1994, but the authority lapsed and has not been renewed. A major issue has been the role of labor and the environment as objectives in trade agreements. Differences have been largely along party lines. On December 6, the House passed TPA bill H.R. 3005 along party lines by a vote of 215-214. The bill covers tariff and nontariff agreements entered into by June 1, 2005. For expedited procedures to apply to legislation to implement a trade agreement, the agreement would have to "make progress" toward meeting the outlined negotiating objectives and satisfy other specified conditions. The President would have to consult with congressional bodies, including the ...

Crs Report for Congress

Crs Report for Congress
Author: Congressional Research Service: The Libr
Publisher: BiblioGov
Total Pages: 22
Release: 2013-11
Genre:
ISBN: 9781294251989

One of the major trade issues in the 107th Congress was whether or not Congress would approve trade promotion authority (formerly called fast-track authority) for the President to negotiate trade agreements with expedited procedures for implementing legislation. Under this authority, Congress agrees to consider legislation to implement the trade agreements (usually nontariff trade agreements) under a procedure with mandatory deadlines, no amendment, and limited debate. The President is required to consult with congressional committees during negotiation and notify Congress at major stages. The President was granted this authority almost continuously from 1974 to 1994. After that, the authority lapsed. On December 6, 2001, the House passed trade promotion authority (TPA) bill H.R. 3005 by a vote of 215-214. An important issue was the designation of labor and the environment as negotiating objectives. On May 23, 2002, the Senate wrapped TPA into a comprehensive trade bill, H.R. 3009, "the Trade Act of 2002." The bill included TPA (in title XXI), reauthorization of Andean trade preferences, extension of the Generalized System of Preferences, and trade adjustment assistance (TAA). Two controversial differences with the House were: (1) the so-called Dayton-Craig amendment, which would allow the removal from an implementing bill any provisions to ...