Manufacturing Industry
Congress reviewing trade pacts, presidential powers.(News)
Plastics News, April, 2007
Byline: Mike Verespej Trade is one of the top items on Congress' agenda this spring. On the forefront is the president's fast-track power to negotiate deals, known as trade promotion authority. Lawmakers will decide if they will renew that rule before it expires June 30. In addition, Congress has four free trade agreements to review, including the one reached with South Korea on April 1.
That deal would be the largest since the North American Free Trade Agreement with Canada and Mexico went into effect in 1994. Under trade promotion authority, Congress can only approve or reject - not modify - those pacts. It has until June 30 to vote on the pending free trade deals and the trade promotion authority. Democrat leaders have vowed not to approve fast track...
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