http://www.washingtonpost.com/opinions/save-obama-on-trade/2015/05/14/aabaf342-fa65-11e4-9ef4-1bb7ce3b3fb7_story.html
That free trade is advantageous to both sides is the rarest of political propositions — provable, indeed mathematically. David Ricardo did so in 1817. The Law of Comparative Advantage has held up nicely for 198 years. Nor is this abstract theory. We’ve lived it. The free-trade regime created after World War II precipitated the most astonishing advance of global welfare and prosperity the world has ever seen. And that regime was created, overseen, guaranteed and presided over by the United States.
That era might be coming to a close, however, as Democratic congressional opposition to free trade continues to grow. On Tuesday, every Democrat in the Senate (but one, with another not present) voted to block trade promotion — a.k.a. fast-track — authority for President Obama, which would have given him the power to conclude the Trans-Pacific Partnership (TPP), a trade deal being hammered out with 11 other countries, including such key allies as Japan, Australia and Singapore.
Fast-track authority allows an administration to negotiate the details of a trade agreement and then come to Congress for a non-amendable up-or-down vote. In various forms, that has been granted to every president since Franklin Roosevelt. For good reason. If the complex, detailed horse-trading that is required to nail down an agreement is carried out in the open — especially with multiple parties — the deal never gets done.
(written May 14)