AGRIBUSINESS: Trade Promotion Authority In The Works
The Trade Promotion Authority legislation has been introduced in Congress by Senate Finance Committee Chair Max Baucus and House Ways and Means Committee Chair David Camp.
The measure would restore the President’s authority to negotiate trade deals that Congress can pass or reject but cannot amend. Without it, countries are reluctant to finalize negotiations with the U.S. for fear any hard-won trade agreement could be undone with congressional amendments.
The American Farm Bureau Federation said they believed the TPA has been needed for quite some time. The AFB President Bob Stallman said it is necessary to move forward with the Trans-Pacific Partnership and the Trans-Atlantic Trade and Investment Partnership.
House Speaker John Boehner said the TPA will move forward only if there is bipartisan support for it and there is currently no Democrat co-sponsor for the bill on the House side. Boehner said the Obama Administration has not drummed up support for the measure with House Democrats.