The Rise and Fall of Fast Track Trade Authority

Abstract

Under the U.S. Constitution, Congress writes the laws and sets trade policy. Yet, over the last few decades, presidents have increasingly grabbed that power through a mechanism known as Fast Track. This procedure has facilitated controversial commercial pacts like NAFTA and the WTO, which restrict nations’ trade and non-trade policies. This book explores how the process of designing U.S. trade agreements has changed from 1789 to the present, with unprecedented documentation of the arguments that motivated both opponents and proponents of the expansion of executive power. It also looks to the future of a new delegation mechanism that can reduce political tension about trade policy and be able to secure prosperity for the greatest number of Americans, while preserving the vital tenets of American democracy in the era of globalization.

Keywords: Fast Track, NAFTA, division of powers, US Constitution, Congress, president, Nixon, Roosevelt

JEL Classification: H11, F02