US Congress to retake trade authority from Bush

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WASHINGTON, June 30 (AFP): Congress will take back its full trade authority from President George W Bush, said the majority Democratic leadership, dismissing White House urgings to let him keep his special power.
The expiration of the Trade Promotion Authority (TPA), which lets Bush negotiate trade agreements that cannot be amended by Congress, could deal a major blow to the nearly collapsed Doha round of World Trade Organisation (WTO) talks.
The TPA, also known as "fast-track," was extended for two years in 2005 and expires at midnight Saturday.
"Our legislative priorities do not include the renewal of fast-track authority," House of Representatives Speaker Nancy Pelosi and other leading Democrats said Friday in a statement.
The House Democrats said they had a plan to improve US trade policy, while at the same time addressing increased economic insecurity felt by American families.
Among the steps considered is the introduction soon of legislation to address the growing US trade imbalance with China and strengthen overall enforcement of US trade agreements and US trade laws.
"Before that debate can even begin, we must expand the benefits of globalisation to all Americans, including taking the actions outlined above. We hope that the administration will join us in these efforts," they said.
Senator Max Baucus, chairman of the finance committee that has jurisdiction over trade policy, said his panel would turn to the TPA "at an appropriate time in the future," after it has been reshaped in "a more powerful job-creating tool for American workers and businesses."
Meanwhile, the Bush administration made a last-ditch pitch to save the TPA.
"It's regrettable that Congress is letting this authority expire this weekend," said Bush spokesman Tony Fratto.
"It will be damaging to our economy and our national security if Congress abandons America's leadership role in trade and the global marketplace," he added.
US Trade Representative Susan Schwab pointed to a May compromise reached between the Republican administration and Congress on several bilateral trade pacts negotiated under the TPA.
"I am hopeful this spirit of cooperation will guide our efforts to renew TPA," she said in a statement.
Secretary of State Condoleezza Rice called on Congress to renew TPA "immediately."
The White House appeal came as Congress headed into a week-long recess for the July 4 Independence Day holiday. The House of Representatives adjourned Thursday and the Senate Friday.
Meanwhile, the Bush administration was planning to wrap up a week of bilateral free-trade agreements negotiated under TPA with the signing of a pact with South Korea Saturday.