Fast Track Authority and Free Trade

The Trans-Pacific Partnership is a new trade deal that encompasses and accounts for 40 percent of the world’s economy. Proponents contend that the deal will increase US exports, drive down import costs, protect intellectual property rights, and establish minimum environmental and labor standards for participants. Opponents contend that the deal would undermine the influence of labor in the United States.

President Obama has sought to fast-track the new deal under a provision known as trade promotion authority. The move has created interesting alliances on both sides, with Congressional Republicans wanting to grant President Obama the authority. On the other side, liberal Democrats in Congress have found a partner in the Tea Party, promoting a populist message opposing the deal.

What do you think? What impact will the TPP have on the US economy? What are the benefits and the drawbacks? Should the deal be fast-tracked? Why?

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