TRADE Act Reviews Existing Trade Agreements, Sets Higher Standards For Future Negotiations

Press Release

TRADE Act Reviews Existing Trade Agreements, Sets Higher Standards for Future Negotiations

Congressman Tom Perriello has joined with more than 100 bipartisan members of Congress to lead passage of the 2009 Trade Reform, Accountability, Development, and Employment (TRADE) Act. Endorsed by a broad range of fair trade, environmental, religious, and farmers' organizations, the bill would mandate trade pact reviews, establish standards, protect workers, and help restore congressional oversight of future trade agreements.

"For two decades, both parties have backed trade policies that shortchange American workers and America's public health," said Perriello. "This bill offers a new framework that protects American jobs and protects our standards of consumer safety and environmental protection. I'm proud to lead on this forward-looking legislation, which is crucial as we work towards economic recovery."

The TRADE Act reforms America's trade policy in four ways:

1. sets standards in numerous areas, including labor, environmental protection, and product safety, for what must and must not be included in all future agreements;
2. requires a review of all existing trade agreements, including NAFTA, the WTO and CAFTA, to assess economic outcomes in the U.S. and abroad and various security, human rights, social and environmental indicators;
3. requires the President, as he renegotiates existing agreements, to submit detailed plans to Congress outlining how he will ensure the agreements meet the standards outlined in the bill; and
4. lays out criteria for a new mechanism to replace the anti-democratic Fast Track negotiating process for trade deals.

Source