Boasting what remains, by far, the world’s largest economy, the United States — and the state of Washington, in particular — has more to gain than to fear from open international trade. Because of that, Congress should act quickly to approve Trade Promotion Authority for President Barack Obama as his administration negotiates the Trans-Pacific Partnership.
Two issues are involved here, beginning with the Trans-Pacific Partnership that has been a topic of discussion for the better part of a decade. The agreement would involve the United States and 11 other Pacific Rim countries, collectively accounting for about 40 percent of the world’s Gross Domestic Product. China, notably, is not involved, and the agreement would provide a counterweight to an economy that is the second biggest in the world.
The Trans-Pacific Partnership has, understandably, attracted its share of critics, in part because of the secretive nature of the negotiations. Some factions worry that further opening international trade would harm organized labor in the U.S. and that the proposal does not include adequate environmental protections. The criticisms deserve to be fully vetted, which is why many in Congress are leery of providing the president with Trade Promotion Authority, commonly known as fast-track authority.
Which brings us to the second issue involved, as the notion of fast-track authority has created an unusual coalition that includes Republicans, Obama and some Democratic legislators. The bill that would provide the authority was written by Sen. Orrin Hatch, R-Utah, and Rep. Paul Ryan, R-Wisc., in cooperation with Sen. Ron Wyden, D-Ore., the ranking Democrat on the Senate Finance Committee.