US Senate to fast-track trade bill
The US Senate has voted to fast-track a bill which may open the door for approving trade agreements including the Trans-Pacific Partnership (TPP), despite rejecting it three days ago.
Yesterday (May 14) the Senate, by 65 votes to 33, agreed to fast-track the Trade Promotion Authority (TPA) bill.
Days earlier on Tuesday (May 12) the fast tracking of the bill was rejected after falling eight votes short of the necessary 60 needed.
According to Reuters, many Democratic Party members, who had initially opposed the bill, voted in favour on Thursday after they were granted approval to vote on other bills related to expanding trade in Africa and a clampdown on currency manipulators.
The fast tracking of the TPA bill means that members of the Senate are likely to debate and vote on it within the next week.
If it is ultimately approved it should make it easier for trade deals, including the TPP and the Trans-Atlantic Trade and Investment Partnership (TTIP) to be implemented.
But when the TPA bill reaches Congress it can only be voted on by politicians and not amended.
The TPP is currently being negotiated by 12 nations, which include the US, Canada, New Zealand, Chile and Mexico.
Campaign website Wikileaks leaked the TPP’s proposals to harmonise intellectual property laws across the participating nations in October 2014.
The TTIP seeks to harmonise IP laws between the EU and US and improve trade between the regions.
Despite the decision to fast-track the TPA bill it may yet face opposition from members of Congress.
Democrat Nancy Pelosi, minority leader for the US House of Representatives, said there is “unease” with a process that would provide “carte blanche agreements unknown” without congressional oversight.
“This is just one of the concerns members have with the TPA before the Senate. We hope this legislation will be improved in the amendment process,” she added.
