Trade Up

http://bigstory.ap.org/article/98407e93cae241adac57b857db1e38ca/obamas-senate-allies-hope-endorse-his-trade-bill-friday

Good or bad for free trade? The truth is no one really knows yet because all the Senate did was authorize Obama the necessary but important negotiating tool of signing a trade bill with other signatory countries, Congress can still reject the final version later on. The controversy in this bill is the same as with other international trade legislation; when does national sovereignty get overruled by a global trade court with the power to regulate business? Nothing has been agreed to yet so this could all be a moot point, but like NAFTA it could come with opaque legal requirements and messy tax issues. I'll be following this one...