Big Tobacco Wants to do to Foreigners What it has Done to Americans
President Obama says he thinks the chances of getting to yes on the Trans-Pacific Partnership are better than even.
He no doubt bases that on the fact that both houses of Congress will soon be controlled by Republicans, who are more enamored of free trade than Democrats are.
In order to win congressional ratification of the TPP, Obama will need Congress first to pass a so-called fast-track bill, and the chances of that happening are also much improved by the Republican take-over of the Senate.
Fast-track, formally known as Trade Promotion Authority, deprives Congress of the power to amend a free trade agreement before voting on it. So, what happens is that they use the fast-track bill to make demands that they can’t make in the trade agreement itself.