US trade with TPP negotiating partners. Image Credit: The Wall Street Journal
The United States Senate passed a bill over Memorial Day weekend which would grant the President Trade Promotion Authority (TPA) with respect to the Trans-Pacific Partnership (TPP) free trade agreement. The TPA, or “fast track” authority, is critical to securing a final TPP free trade agreement with eleven other countries, as it effectively grants the President authority to negotiate on behalf of the United States. Furthermore, the TPA would limit Congress to a simple up or down vote on the final TPP terms, without the ability to subsequently add amendments pending the conclusion negotiations. The 62-37 vote in favor of the TPA overcame the objections of labor groups and progressives who have railed against the perceived lack of labor protections, secrecy of negotiations, and stringent intellectual property regulations. The House will take up the TPA after returning on June 1st, where it will face numerous hurdles from pro-labor democrats, “poison pill” amendments such as the proposed currency manipulation measure – which the President indicated he would veto, and conservatives, who are hesitant to grant the President negotiating authority on behalf of the United States.
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