"New 'fast track,' or trade promotion authority (TPA), legislation to implement trade agreements is at issue in the 107th Congress. Such authority could enable the Administration to submit negotiated foreign trade agreements to Congress for consideration under expedited procedures. Efforts to renew this authority, which expired in 1994, have not succeeded since then. Many agricultural and food industry interests are among the export-oriented enterprises that support TPA, arguing that foreign trading partners will not seriously negotiate with an Administration that lacks it. However, some farm groups argue that fast track ultimately will lead to new agreements that could have adverse effects on U.S. producers, at least in some commodity sectors. This report will be updated if events warrant."
CRS Report for Congress, 97-817
U.S. Department of State: http://www.state.gov/