Friday, July 20, 2007

Democratic Majority In U.S. House Slows "Fast Track" Trade Deals

In both the U.S. and South Korea, as well as South America, a growing chorus of concerns from workers is rising that Fast Track trade legislation are not good for all parties involved. The U.S. House under the new Democratic control has been more responsible to these concerns and has will not reauthorize this Fast Track, and will not ratify such new deals with Panama, Columbia, Peru and South Korea. In the future of any South American trade deals, worker's rights will have to have the same consideration of thise rights of investors, an important step forward to treating South American workers with dignity.

Not only has Fast Track deals hurt American jobs, but it has clearly worsened the economic standing of many living in states such as Mexico, creating a wave of economic refugees to the U.S. as wages dropped by about a third among farm workers.

Whether this vote by the House will really stand, or more trade deals will be made without t5he real consent of Congress remains to be seen. But at least Congress hoped to put the brakes on Fast Track deals that benefit only a few importers or manufacturers and create more problems for many more.


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