The Trans-Pacific Partnership agreement would be the largest single trade agreement concluded worldwide for more than a decade. It would transform world trade governance in ways that are hard to predict. This column discusses the machinations inside the US Congress that gave US negotiators the green light to wrap up the TPP talks. If all goes well, the deal may happen just prior to the APEC Summit in the Philippines in November 2015.
Gary Clyde Hufbauer
Reginald Jones Senior Fellow, Peterson Institute for International Economics
President Barack Obama and Senate Majority Leader Mitch McConnell (R-KY) scored a dramatic victory on 23 June 2015, persuading 60 senators to head off a filibuster against Trade Promotion Authority (TPA), the minimum number needed. TPA will be enacted by the Senate this week, as the bill itself requires just 51 affirmative votes. At the same time, Trade Adjustment Assistance (TAA) will be packaged with the African Growth and Opportunity Act (AGOA) and a mildly protectionist anti-dumping provision, to get another 60-vote filibuster-proof majority before being enacted....