Major Step for TPA
The Senate voted today to end debate on TPA, which would authorize fast-track authority for the negotiation of the Trans-Pacific Partnership and other free trade agreements. The final vote on the bill is scheduled for tomorrow, and after its passage in the Senate will be ready for the president’s signature. This bill allows the president to submit a trade agreement to Congress for approval without modification, meaning that Congress cannot amend the deal after it has been accepted by our trading partners.
This ability is necessary for US trade objectives, as it alleviates concerns that issues important to trading partners will not be removed from the final deal after negotiations have closed. TPA also establishes guidelines and objectives for American negotiators, who will now be able to finish negotiations on two major free trade agreements. These deals, TPP and TTIP, will give the American economy greater access to world markets and will help to strengthen America’s strategic relationships with allies in Europe and around the Pacific Rim.