Ross supports fast-tracking trade deals

Fast-tracking trade got an endorsement from Donald Trump’s Commerce secretary nominee. 

Secretary-designee Wilbur Ross said on Wednesday that he backs trade promotion authority (TPA), which is the process of sending trade agreements through Congress without amendment, as a way to reassure trading partners that agreements will get done. 

“I think you need to assure your counterparty that there’s a reasonable and quick process for solving the negotiations,” the former banker told the Senate Commerce Committee during his confirmation hearing. 

{mosads}”So far, TPA is the law of the land, and until there’s some specific alternative proposed, I don’t think there is any real alternative to it,” Ross said. 

TPA, which was approved in 2015, is in place for six years and would be in effect through Trump’s administration.

Ross said he expects Trump to consult with Congress on trade issues and that “I certainly believe it has to be an interactive process between Congress and each of the departments, and I see no reason that I would deviate from that practice.”

Fast-track may get an early test if the U.S., Mexico and Canada can renegotiate the North American Free Trade Agreement this year. 

Ross said that a reworking of the deal would be a first step to implement the Trump trade agenda. 

“NAFTA is logically the first thing for us to deal with,” Ross said. “We ought to solidify relationships the best way we can in our territory.”