I'm sure you already know it.
That's not much of an argument. Even the most alarmist threads and posts on this subject seem to agree, once you drill down, that this "agreement" was to be submitted to Congress after the 2006 elections and that it would not take effect until Congress acted or, at a minimum, failed to act for 90 days. So, I really do want to know -- What do you think took effect in May of last year?? And what is your source?