TPA Signed Into LawTuesday, July 7, 2015
(North American Meat Institute)
President Obama last week signed Trade Promotion Authority (TPA) and Trade Adjustment Assistance (TAA) legislation into law. TPA clarifies trade agreement objectives and priorities and sets consultation and notification requirements that the president must follow during negotiations. Congress may only consider final trade agreements with an up-or-down vote, without the possibility of offering amendments that could block a deal. Meanwhile, TAA provides training and other assistance to American workers whose jobs are displaced by international trade.
TPA is essential to concluding the ongoing Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (T-TIP) agreements. TPP leaders are aiming to finalize a deal this summer, which would cover 12 countries and more than 40 percent of the world's economy. If a deal is reached, Congress may vote on TPP as early as this fall.share on facebook share on twitter