The Senate has approved Trade Promotion Authority (TPA) by a vote of 60 to 38.
The legislation grants the president authority to enter into and finalize free trade agreements. Proponents argued that TPA is necessary in order for U.S. negotiators to complete the Trans-Pacific Partnership agreement with 11 Pacific Rim countries.
“TPA is what allows the trade negotiators to get the best deal,” says Dave Warner, a spokesman for the National Pork Producers Council. “Hopefully we’re going to get a really good deal out of the TPP, one that will see exports of pork to those countries increase significantly.”
The National Cattlemen’s Beef Association also applauded the Senate’s action. NCBA president Philip Ellis called it “a fundamental step to securing future free trade deals that will allow beef producers greater access to foreign markets."
The National Corn Growers Association says passage of TPA puts “the U.S. is back in the driver’s seat." The American Soybean Association called on Obama to sign the TPA bill as quickly as possible, citing the importance of TPA in creating and strengthening international trade agreements.
Source: www.brownfieldagnews.com