The US Senate Majority Leader has expressed his opposition to the Trade Promotion Authority (TPA), despite the intention of President Obama to engage with Congress to pass the legislation providing for the renewal of the TPA.
This opposition to the TPA could severely hamper the President’s negotiation of both the Transatlantic Trade and Investment Partnership (TTIP) with the European Union and the Trans-Pacific Partnership (TPP). The lack of the TPA, which previously expired in 2007, would be perceived as a clear sign of problems for the Administration’s plan of TPP finalization as soon as possible this year. Its absence could also affect both the timing and content of the TTIP.
Congress has the authority to regulate international trade, but the President has the authority to negotiate trade agreements with foreign governments. With the objective that US trading partners can be assured that trade agreements would be fast-tracked through Congress, TPA, if resuscitated, would prohibit amendments to implementing bills for trade treaties and impose a timetable for their consideration.
