Bush has lost his 'fast track' power for trade agreements

[kurth]

Bush losing 'fast track' trade powers
Democrats not eager to give president new trade negotiating authority
The Associated Press

WASHINGTON - President Bush loses his power Saturday to seal "fast track" trade agreements without interference from Congress, where Democrats blame recent deals for sending U.S. jobs abroad. Since 1975, only one other president, Bill Clinton, has been stripped of that trade promotion authority, designed to speed the reduction of trade barriers and open new markets with other countries. Bush won't get it back again, and the next president might not either.

House Democratic leaders, including Speaker Nancy Pelosi of California and Rep. Charles Rangel of New York, whose Ways and Means Committee handles trade policy, said in a written statement Friday that their legislative priorities "do not include the renewal of fast track authority." "Before that debate can even begin, we must expand the benefits of globalization to all Americans," they said.

In the Senate, Finance Committee Chairman Max Baucus, D-Mont., said he had other pressing trade issues, such as extending relief to trade-hit American workers. "I have always said that it is more important to get trade promotion authority done right than to get it done fast."... Democrats say they support expanded trade as long as it's fair to American workers and doesn't exploit developing countries. They complain that Bush pushed too many trade deals at the expense of worker rights and environmental protections.

Fast track authority, which dates back to the Ford administration in 1975, gives the president the right to negotiate trade agreements that Congress can accept or reject, but cannot amend. Every president since then has enjoyed it, although the law lapsed between 1994 and 2002, when Democrats suspicious of trade agreements joined with Republicans hostile to the Clinton administration in opposing its renewal. The revival of the law in 2002 came only after Republicans agreed to Democratic demands to expand a program assisting U.S. workers hurt by foreign trade...

http://www.msnbc.msn.com/id/19509838/

[Lasher]

1. Very good!

This is important but I wonder how much it will be noticed.

[madrchsod]

2. dead duck walking

by september he will be nothing but a figurehead...wait a minute ,he always has been.

[Rydz777]

3. In the general gloom, at last some GOOD NEWS! eom

[dkofos]

4. That's the good news. The bad news is that trade agrements are now

in the hands of congress.