New Senate Finance Chairman Orrin Hatch of Utah wants to take up a Trade Promotion Authority Bill early this year. He wants the President to be able to negotiate trade deals with only an up or down vote by Congress. National Farmers Union opposes that approach. Vice President of Programs Chandler Goule says they would support a Smart Track approach advocated by Ranking Democrat Ron Wyden.
Wyden’s approach would give Congress a greater role in the trade deals and allow lawmakers the ability to right the ship if trade negotiators get off course. Goule says proponents have been arguing trade agreements won’t progress without TPA. He calls that a false argument.
Goule says the problem with most trade agreements the U.S. has entered into recently lies with the rising trade deficit. He says the latest figures show that deficit at $ 471 Billion which puts a drag of 3 percent on the Gross Domestic Product.