TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP : LONG-AWAITED FAST TRACK BILL INTRODUCED IN US CONGRESS.

 
FREE EXCERPT

Supporters of the EU-US free trade pact talks got a boost, on 9 January, when a bill requiring Congress to vote on a future accord in a simple up-or-down vote (ie without amendment) was introduced. The Congressional Trade Promotion (TPA) Act of 2014 was sponsored by the top Democrat and top Republican responsible for trade policy in the Senate. However, in the House only the top Republican on trade put his name to it, with the ranking Democrat opposing. Persuading Congress to pass the bill looks like being a tough lift in the House where resistance among Democrats is strong, although they are the minority party. Bipartisan support is more solid in the Senate where the Democrats have the majority. The White House and US Chamber of Commerce are welcoming the bill but the US labour unions oppose it.

"The legislation will be instrumental to ensuring that our country's current trade negotiations in Asia and Europe are a success, and that...

To continue reading

REQUEST YOUR TRIAL