TPP breakthrough: US Senate clears fast-track hurdle
Senate votes in favour of trade bill that was blocked earlier in the week.
Hot Topic
Hawke’s Bay
A measure to give President Barack Obama the power to ease trade pacts through Congress cleared a procedural hurdle in the Senate and reversed a blocking move earlier this week.
The vote was 65-33 on taking up a fast-track bill that would also renew a programme that helps workers hurt by trade deals.
Republicans joined forces with pro-trade Democrats to advance the bill, overcoming opposition from liberals who want to block new trade deals.
The most important of these is the Trans Pacific Partnership (TPP). Sixty votes were needed for the bill to clear this first procedural hurdle.
Fast-track authority, which has been suspended since 2007, gives the president the power to submit trade deals to Congress for an up-or-down vote without amendments.
The final Senate vote on trade promotion authority and an associated bill renewing the Trade Adjustment Assistance programme – aimed at assisting workers hit by trade deals – is expected next week.
Nevil Gibson
Fri, 15 May 2015
Fri, 15 May 2015
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
TPP breakthrough: US Senate clears fast-track hurdle
47706