4 New Trumps Shaking Fast Track's House of (Trading) Cards
After first rejecting "fast-track authority" to prevent Congress from amending President Obama's pendingres Asian and European trade agreements,13 Senate Democrats changed their votes Thursday. The senators who flipped had obtained other concessions, on issues like the Export-Import Bank and currency manipulation - but tellingly most of the concessions were promises to let something be voted on, not commitments to pass them.
The Senate vote passed the bill Friday night, the process proved far more difficult than expected and prospects in the House were even more challenging.
The debate thus far represents a seismic change in the trade conversation. Now the argument is not about whether to incorporate labor and environmental standards. This year's debate is about the fundamentals -- are the kinds of trade agreements we have been negotiating good for the country at their core?
More ...