House Ways and Means Committee Chairman Paul Ryan's strongest ally when it comes to getting trade promotion authority legislation passed is President Barack Obama, but he said Wednesday that the legislation, if it passes, will put Congress in charge of any agreements that are reached.
"The joke is to friends in Congress is that a broken clock is right twice a day," the Wisconsin Republican told Fox News' "America's Newsroom" program. "When the president agrees with your policy, take it."
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He explained that trade promotion authority is different from fast track legislation, where the president goes through and passes it either up or down.
"We are doing the opposite," Ryan said. "We are doing it the opposite of that way and putting Congress in charge. We need to open markets, and sell them overseas."
He pointed out that under the legislation, Congress will have the opportunity to decide whether or not to approve trade agreements 60 days after they are proposed.
There are opponents on both sides of the table over the legislation. Republicans "hate the president's foreign policy," said Ryan, "and we argue to the world this is Obama's foreign policy. Trade is America. This is an issue of American leadership and, as Republicans, we are in favor of an American leadership."
The rules of the global economy are being written, he continued, "and the question is, who is going to write them? Are we going to write them by getting other countries to agree to our rules and standards or do nothing and let China write the rules?"
He compared the matter to the current deal the Obama administration is working out with Iran over its nuclear capabilities.
"We don't like the Iran deal President Obama is doing," said Ryan. "Imagine if we would have TPA deals for the Iran deal. We would know what was in the deal. The country would see what was in the deal. And Congress would have veto power. I wish we had TPA for the Iranian agreement because then we could stop it. That is why we are doing TPA for the trade agreements."
The Wisconsin representative also discussed the issue of trade adjustment assistance, which has been in place for several years to allow out-of-work people to obtain training benefits.
"Some Republicans don't like it, some do," he said. "Democrats like it. It is something that is considered not inside the TPA vote itself but separate. When you have a big plant closing in a town, there is no jobs for that kind of industry. I experienced this. The TPA says here is job training benefit to get skills to get another job.
Ryan also said he is "good with" not being in this year's presidential race, after being Mitt Romney's running mate in 2012.
"I can do a lot of good with the Ways and Means Committee and I get to be home with my family on the weekend," he commented.