Brave New Deal? Assessing the May 10th U.S. Bipartisan Compact on Free Trade Agreements
The new compact spawns a number of questions for those focused on U.S. trade policy: will its provisions become the new template for bilateral and regional trade agreements? Will it influence the granting of fast track negotiating authority (trade promotion authority) to the administration? Will it even help in the passage of the two agreements to which it applies, given substantial dissatisfaction with the deal within the Democratic caucus? And does Congress' intervention in a negotiated trade deal spell the end of TPA as it was formerly understood?
Aaron Cosbey assesses the compromise.