The Trans-Pacific Partnership, which the United States and 11 other Pacific Rim countries signed Oct. 5, is one of the largest trade pacts in history.
Approval from Congress is far from assured. The votes will not be for several months. Moreover, the vote to extend President Obama’s fast-track trade agreement negotiating authority barely passed the House last June (218-210). This doesn’t portend well for the TPP.
And with the impending change of GOP leadership in the House, there is some question whether any controversial measure is capable of passage in the House this session. The Senate must vote 30 days after the House. The Senate is more likely to approve, because it voted 60-38 to approve fast-track legislation.
A positive sign for those who seek its passage is support of the agreement from food and agriculture groups.
American Sugar Alliance
“We appreciate that the U.S. government was able to make good on its promise not to insert sugar provisions that would threaten no-cost operations of sugar policy,” said Jack Roney, an economist with American Sugar Alliance. “We don’t see ourselves as being harmed economically by these provisions. The volumes involved are really not large enough to have a significant effect.”
American Farm Bureau Federation
“We hope the agreement will bring a more level playing field for farmers and ranchers by reducing tariffs and removing non-science based barriers to trade,” said Bob Stallman, AFBF president. “The agreement covers markets that are expected to grow rapidly for decades to come.”