WASHINGTON, DC – In late June 2015, Congress passed and President Obama signed into law Trade Promotion Authority (TPA), or is it’s commonly referred to as the “Fast Track Trade Authority”. The law allows the administration at the time the opportunity to negotiate trade agreements with partners with certainty that if approved by Congress, the pact will not be changed. Though President Obama had access to TPA during the final seven months of his term, President Trump enjoyed having the authority for all four years. For President Biden, however, TPA will end on July 1, 2021, unless it is renewed by Congress. The Hinrich Foundation says the Biden administration has so far been deliberately ambiguous about its trade policy, preferring broad statements to specific proposals. “If the administration does decide to take a more aggressive approach to trade, polling data suggest it will find a public that has grown much more supportive of trade over the past four years.”
(SOURCE: All Ag News)