U.S. President Barack Obama (C) meets with the leaders of the Trans-Pacific Partnership (TPP) countries in Beijing November 10, 2014.
(Reuters/Kevin Lamarque)
President Barack Obama may be looking for the new Republican-controlled Congress to grant him authority to fast-track negotiations over a pair of international trade deals, but critical Democrats are fighting back against the measure.
Congress knows little about the specifics of the Trans-Pacific Partnership Free Trade Agreement (TPP) trade deal between 12 Asia-Pacific countries, but President Obama used his State of the Union speech to push Congress to support a fast-track vote on the deal. Obama said the deal is necessary “
to sell more American products overseas.”
If the Republican-led Congress votes to give fast-track authority to the president, it means lawmakers can only vote up or down on the trade deal when it is presented, with no chance to add amendments. And only after fast-track authority is approved will congressional members get to see what is in the deal.
For example, the Permanent Normal Trade Relations pact with China was supposed to create hundreds of thousands of US jobs, but instead led to the loss of 3.2 million. Proponents said that the North American Free Trade Agreement would create 200,000 US jobs, but instead it cost 1 million, while the Korea Free Trade agreement, also promoted as a job creator, instead led to the loss of more than 50,000.
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