All future free trade agreements would be vetted by the Productivity Commission and re-examined every 10 years under a new Labor policy that has won endorsement from business organisations.

Unveiling the policy at a function hosted by the Australian Chamber of Commerce and Industry, Labor trade spokesman Jason Clare said the public was sceptical about the China, Korea and Japan trade agreements in part because they hadn't been subject to an independent arms-length assessment outlining what they would mean for jobs and incomes.

Labor MP Jason Clare and Opposition Leader Bill Shorten Credit:Alex Ellinghausen

"At the moment, once a free trade agreement is signed a report is prepared by the Department of Foreign Affairs and Trade outlining why it is in Australia's national interest. That's it," he said.

"Given all the scepticism that exists, I don't think it's good enough to rely on a report from the same people who negotiated the deal. It should be independently assessed."