Developments on fast track trade promotion authority continue to slow progress on two controversial corporate trade agreements, the Trans-Pacific Partnership and its European cousin. The incoming chair of the Senate Finance Committee, Ron Wyden (OR), has said he is not going to rush on fast track. The Baucus-Camp fast track bill seems to be dead and if there is going to be a fast track bill it will be something different from traditional fast track laws, most recently passed in 2002. Members of Congress realize that rigged global trade agreements are not popular with the American people who have learned the lesson of NAFTA — corporate trade only helps the transnational corporations it does not help workers in the United States or around the world, puts the environment at risk and creates economic disruption that harms economies. The economic harm to the United States is seen in massive trade deficits, losses of hundreds of thousands of jobs and lowered incomes since the modern era of free trade took root in the Clinton era.
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