Under the policy, Clinton would have negotiating power to strike trade deals with foreign countries that Congress could accept or reject as an entire package, but not amend. This, the administration argues, would help the United States create jobs, bolster exports and form trade pacts with Chile and other emerging markets. But the fast track proposal, which fails to adequately address labor and environmental standards, could instead exacerbate the negative effects of free trade. Global free trade does benefit segments of the American populace in various ways.
Consumers can buy cheaper goods because of low-priced imports.
And free-trade pacts do ultimately produce jobs for highly skilled professionals. But they also destroy jobs and depress wages for thousands of unskilled workers. Labor unions estimate that 420,000 jobs were lost when U.S. companies flocked abroad to exploit cheap foreign labor after the North American Free Trade Agreement with Mexico and Canada was passed. Most Republicans support fast-track authority, but to pass it Clinton needs additional help from Democratic congressional leaders. These leaders, however, including House Minority Leader Richard Gephardt, D-Mo., will not endorse the policy unless it includes standards protecting workers' rights and environmental safety.