Federal Government Policy and Business

Deal on Trade Pact Gives Obama Authority but Builds In a Delay

The New York Times: WASHINGTON — Republican lawmakers and the White House have agreed to subject any trade deal negotiated by President Obama to a monthslong review by Congress and the public, a concession aimed at winning the support of Democrats who view trade agreements as a threat to American workers.

That provision, expected to be formally approved Wednesday by the Senate Finance Committee, would give Mr. Obama the “fast-track” authority he has been seeking to negotiate the Trans-Pacific Partnership with a dozen Pacific Rim nations, potentially expanding markets for American companies. But the compromise will almost certainly push a major trade accord with Asia into the presidential election season, a politically charged prospect that trade supporters had hoped to avoid.

Read article