The Bush administration will sign free trade agreements with South Korea and Panama this week, but the likely expiration on Saturday of the presidential authority to craft such accords without amendments from Congress may stall the administration's...
WASHINGTON — The Bush administration will sign free trade agreements with South Korea and Panama this week, but the likely expiration on Saturday of the presidential authority to craft such accords without amendments from Congress may stall the administration's trade agenda.
Congress, now controlled by Democrats, is reluctant to cede its power to negotiate trade pacts to the president, especially with the World Trade Organization's Doha talks stalled.
The climate after the expiration of the president's Trade Promotion Authority would resemble the late Nineties, said Erik Autor, vice president and international trade counsel at the National Retail Federation, recalling when "very little happened on the trade front other than litigation."
He added, "It doesn't look terribly promising out there. The lack of TPA just makes the situation that much worse. I don't really expect much progress at all."
Trade Promotion Authority is probably dead for an extended period, said Stephen Lamar, executive vice president of the American Apparel & Footwear Association, noting the focus would shift to reforming and renewing the trade preference programs and enforcement of trade laws.
Still, there have been some signs of cooperative movement recently.
On Monday, U.S. Trade Representative Susan Schwab said the administration had completed an understanding with Congressional leaders on how the labor and environmental provisions of trade deals would be written. That new language will be reflected in the deals with South Korea and Panama as well as in pacts with Colombia and Peru, which have already been signed and therefore made the Trade Promotion Authority cutoff.
It is unclear when the Bush administration will submit the four trade deals to Congress for up or down votes.
In the case of the South Korean deal, key lawmakers have raised objections to provisions covering auto and beef trade and the consideration of manufacturing zones in North Korea. The assassinations of labor leaders in Colombia have made U.S. lawmakers wary of the deal with that country.
Trade Promotion Authority also is viewed as crucial to the WTO's Doha talks, a cornerstone of Bush's trade policy. Named for the capital of Qatar where the negotiations were launched in 2001, a Doha trade deal could reorder the global trading landscape by reducing global tariffs and government subsidies. The talks, however, suffered the latest in a series of setbacks last week when the U.S., the European Union, Brazil and India failed strike up a basic agreement that could have served as the base for a deal among the WTO's 150 member countries.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)