US FAST TRACK AUTHORITY STILL AT RISK
Congress has withheld its approval for the last nine years, preventing both Presidents Bush and Clinton from negotiating trade agreements that would be submitted to Congress for straight up- or-down votes without amendment. Despite widespread anticipation that Trade Promotion Authority would be approved by late June 2002, the situation in Washington remains fluid.
The 68-29 Senate vote in late May 2002 reflected the extent to which there are genuine political philosophic differences to be bridged in the US Senate. Debate was more contentious than expected, and went on for much longer -- nearly a month -- than anticipated. The base of support in the US Congress for free trade principles clearly has weakened in recent months. It was only after White House concessions to domestic textile industry interests that the House of Representatives passed a version of fast track authority by just one vote in December 2001.
As the Congress prepares to move to summer recess in August, the work of reconciling the House and Senate versions of the legislation will be re-profiled into the autumn. The final version, which requires approval from both chambers, will almost certainly not be addressed until after the November Congressional mid-term elections. In effect, the earliest that President Bush can expect to secure fast track authority is December 2002.
For more information, see Senator Baucus & Conditions on Trade Promotion Authority.
ISSN 1492-7187, TRADE POLICY MONITOR, May-June 2002,
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