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US Senate votes 60-38 for fast-track, putting TPP trade deal on road again
FAST-TRACK legislation needed to secure the 12-nation Trans-Pacific Partnership (TPP) has passed in the US Senate by a 60 to 38 vote, advancing President Barack Obama's efforts to strengthen US economic ties around the Pacific Rim.
Now the fast-track bill, after under which lawmakers can vote yes or no to TPP but without amendments, goes for the President's signature after a six-week congressional battle, Reuters reported.
US labour groups, which fought fast-track, said they will redouble their efforts. "We will vigorously oppose TPP if it continues on its current course," said AFL-CIO president Richard Trumka.
Prominent conservatives also oppose TPP because it puts rules and regulations outside the legislative reach of the US Congress, and has been compared to treaties that inaugurated the European Union.
Without this legislation, the TPP might well be dead because some countries, Japan and Canada included, want fast-track approved before they finalise their agreement with the trade deal, which would cover 40 per cent of the world economy.
Now the fast-track bill, after under which lawmakers can vote yes or no to TPP but without amendments, goes for the President's signature after a six-week congressional battle, Reuters reported.
US labour groups, which fought fast-track, said they will redouble their efforts. "We will vigorously oppose TPP if it continues on its current course," said AFL-CIO president Richard Trumka.
Prominent conservatives also oppose TPP because it puts rules and regulations outside the legislative reach of the US Congress, and has been compared to treaties that inaugurated the European Union.
Without this legislation, the TPP might well be dead because some countries, Japan and Canada included, want fast-track approved before they finalise their agreement with the trade deal, which would cover 40 per cent of the world economy.
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