November 16, 2016
By Steven Wishnia and Neal Tepel
Washington, DC – Congressional leaders from both parties told the White House Nov. 11 that they would not bring the proposed Trans-Pacific Partnership up for a vote in the post-election lame-duck session, effectively killing the 12-nation trade agreement for this year.
President Barack Obama had hoped to rely on a coalition of Republicans and centrist Democrats to pass the pact, but the election of Donald Trump on an anti-trade platform appears to have scotched that. “This important agreement is not ready to be considered during the lame duck and will remain on hold until President Trump decides the path forward,” Rep. Kevin Brady (R-Tex.), chair of the House Ways and Means Committee, said in a statement Nov. 9. The deal, among 12 American and Asian nations including Japan and Mexico, would have set some protections for labor, the environment, and intellectual property, but would have allowed foreign investors to challenge national or local regulations that affect their profits in a private court. It also became a target for people who believed trade deals encouraged shipping U.S. jobs to low-wage nations. Read more