Trade Expansion at Stake. The administration, they expect, would then launch Western Hemispheric free trade negotiations at the hemispheric summit in Chile in April 1998. At stake is the ability of the United States to enter into negotiations along with the rest of the world, which is racing ahead with trade expansion agreements. At one time or another, Canada, Chile, and the European Community have each refused even to negotiate with the United States unless the administration had fast-track authority. The CSIS William M. Scholl Chair in International Business, Ernest H. Preeg , noted that other governments have understood that the administration was putting off the fast-track showdown until now.
Timing is Everything.
Earlier today, the president publicly requested that Congress renew fast-track authority but failed to submit legislation as initially expected. It has been reported that the administration wants to have fast-track authority approved by Congress, or at least the House, before Congress adjourns this fall. Preeg believes that if the President does not submit legislation by the end of next week, it is unlikely to be adopted before adjournment.