The Constitution gives Congress exclusive authority to set tariffs and enact other legislation governing internation trade. The President has the Constitutional authority to negotiate international agreements. If the President negotiates a trade agreement that requires changes in U.S. tariffs or in other domestic laws, that trade agreement's implementing legislationmust be submitted to Congress -- or the President must have Congress' advance approval of such changes.
Fast track is an expedited procedure for Congressional consideration of trade agreements. It requires Congress to vote on an agreement without reopening any of its provisions, while retaining the ultimate power of voting it up or down. The three essential features of any fast track authority are:
(1) extensive consultations and coordination with Congress throughout the process;
(2) a vote on implementing legislation within a fixed period of time; and
(3) an up or down vote, with no amendments.
Ultimately, fast track gives the President credibility to negotiate tough trade deals, while ensuring Congress a central role before, during and after negotiations. The authority puts America in a strong position to negotiate major trade agreements and maintains a partnership between the President and Congress that has worked for more than 20 years.
How will the President use Fast Track?
The history of Fast Track