U.S. Senator Elizabeth Warren hit back at President Barack Obama in their tussle over “fast track” authorization to negotiate a Pacific Rim trade treaty, a power she says could be used in the future to weaken Wall Street reforms.
The president, who wants expedited negotiating power to streamline the passage of trade deals through Congress, said last week that Warren’s claims were “absolutely wrong.”
Warren, a Massachusetts Democrat and prominent liberal voice, stuck to her argument in an interview published on Monday with a left-leaning Washington Post blog, saying Obama should release details of the Pacific trade talks so legal experts can determine if a pact could be used to weaken U.S. bank rules.
“If the president is so confident it’s a good deal, he should declassify the text and let people see it before asking Congress to tie its hands on fixing it,” Warren said in the interview with the Plum Line blog.
The dispute between Obama and Warren, both Democrats, reflects a split within the party over the White House’s trade agenda, which includes the 12-nation Trans-Pacific Partnership, stretching from Japan to Chile.
On Monday, the White House stood firm in what it called a “substantive disagreement.”
“The president was blunt about the fact that some of her facts were wrong,” White House spokesman Josh Earnest told reporters at a press briefing.
Warren has said fast-track authority, which would mean Congress could approve or reject deals like the TPP, but not change specific provisions, could be used by a future president to weaken Wall Street reforms that she championed.
Obama, in an unusual alliance with congressional Republicans, says the pact would open new markets around the Pacific Ocean for U.S. goods. But many Democrats fear the deal will hurt American workers.
Warren joined with 13 other Democratic senators in writing to the U.S. Trade Representative to say countries like Vietnam, Malaysia, Brunei and Mexico should have to change their local labor laws before getting any trade benefits.
“American workers cannot compete against workers in these countries where fundamental worker rights are not protected,” said the May 8 letter, released on Monday.
Among the signatories was Maryland’s Ben Cardin, one of seven Democrats who backed fast-track legislation during debate in the Senate Finance Committee. The bill is expected to come before the full Senate this week.
Earnest said the White House has support from the majority of Republicans and Democrats but would continue to make its case to Democrats. Some Democrats needed to set aside “reflexive” opposition to trade, he said, adding: “We’re optimistic about our ability to win over the support and votes of a number of Democrats.”
Warren was asked by the White House to set up the U.S. Consumer Financial Protection Bureau after the 2007-2009 financial crisis. Since her election in 2012, she has worked to push Senate Democrats to adopt her views on many issues.
