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The last renewal of Fast Track expired in June of 2007, but detrimental trade agreements like the Central American Free Trade Agreement have been implemented under this system. Fortunately, because of the expiration, trade agreements like the Colombia-U.S. FTA, which have already received presidential approval, are being pulled back into Congress for a closer look.
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Fast track negotiating authority (a.k.a. Trade Negotiation Authority) allows the executive branch to negotiate and sign international trade agreements without Congress' prior approval. After terms have already been decided by the executive branch, Congress is allowed only a yes or no vote with no amendments permitted. This system was adopted under the auspices of expediting the negotiation process, but in reality inverts the traditional legislative process while facilitating the passage of trade agreements that have not been adequately debated by Congress.