Aaron Fobes, Julia Lawless (202)224-4515
Trans-Pacific Partnership: The Rigorous Review Continues
While the Obama administration has formally signed the Trans-Pacific Partnership (TPP) trade agreement, it does not mean a vote on the 12 nation trade pact is imminent or that Congress’s oversight responsibilities are at an end. In many ways, it is just beginning.
And thanks to bipartisan Trade Promotion Authority (TPA), Congress and the American people are equipped with new tools to thoroughly examine the trade agreement to ensure it is the best possible deal for American job creators, exporters and workers.
So, what’s next?
Under TPA, the Administration must submit a description of changes in law need to implement TPP to Congress, the United States International Trade Commission (USITC) must produce reports detailing the economic effects of the agreement, and the President must provide Congress more details on how the administration plans to administer the agreement.
In short, TPA puts the onus on the Administration to consult closely with Congress and complete certain steps in order to maintain TPA’s privileges and achieve congressional approval.
Take a look:
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