|Image Courtesy of "GlobalTradeWatch" on Flickr Creative Commons
This post previously ran in The Huffington Post's Business section.
"Free Trade" was in the news this Memorial Day weekend. President Obama is pushing hard for "fast track" approval of his Trans-Pacific Partnership ("TPP") Agreement, calling for a simple up or down vote without the possibility of amendments or floor debate.
The New York Times reported that Senate Majority Leader Mitch McConnell has forged a "rare alliance" with the president to push the trade legislation. Senate Finance Committee Chairman Orin Hatch has been quoted as saying, "It shows that when the president is right, we will support him." (Never mind that Hatch has also been quoted as saying: "I don't know fully what's in TPP myself.")
Dear Mr. President: With all due respect, how do you spell RED FLAG!
Myths and confusion abound both around the meaning of so-called free trade and what the TPP is really about. Here's what I know.