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U.S. lawmakers closer on fast track trade deal key to Asia pact
Source: Reuters
Politics | Wed Apr 15, 2015 5:29pm EDT
U.S. lawmakers closer on fast track trade deal key to Asia pact
WASHINGTON | BY KRISTA HUGHES
(Reuters) - U.S. lawmakers are close to finalizing details of a bill to speed trade deals through Congress, a move that would seal a sweeping Pacific trade pact that has been more than five years in the making and is a key part of the Obama administration's pivot to Asia.
U.S. Senate Finance Committee Chairman Orrin Hatch said on Wednesday he was working with the panel's top Democrat, Ron Wyden, to get a deal.
The so-called fast track legislation is key to reaching a 12-nation Pacific trade pact and officials are eager for it to pass ahead of a visit by Japanese Prime Minister Shinzo Abe in April.
Fast track enables Congress to set negotiating priorities for the administration in exchange for agreement not to amend trade deals. Democrats who fear job losses and Republicans opposed to handing President Barack Obama more authority had hoped to scupper the deal.
"It's a work in progress," Hatch, a Republican, told reporters. Earlier he had indicated that there could be a deal before the end of the day.
[font size=1]-snip-[/font]
U.S. lawmakers closer on fast track trade deal key to Asia pact
WASHINGTON | BY KRISTA HUGHES
(Reuters) - U.S. lawmakers are close to finalizing details of a bill to speed trade deals through Congress, a move that would seal a sweeping Pacific trade pact that has been more than five years in the making and is a key part of the Obama administration's pivot to Asia.
U.S. Senate Finance Committee Chairman Orrin Hatch said on Wednesday he was working with the panel's top Democrat, Ron Wyden, to get a deal.
The so-called fast track legislation is key to reaching a 12-nation Pacific trade pact and officials are eager for it to pass ahead of a visit by Japanese Prime Minister Shinzo Abe in April.
Fast track enables Congress to set negotiating priorities for the administration in exchange for agreement not to amend trade deals. Democrats who fear job losses and Republicans opposed to handing President Barack Obama more authority had hoped to scupper the deal.
"It's a work in progress," Hatch, a Republican, told reporters. Earlier he had indicated that there could be a deal before the end of the day.
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Read more: http://www.reuters.com/article/2015/04/15/us-usa-trade-senate-idUSKBN0N622120150415
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