Obama's 'fast track' trade plan approved by lawmakers

19. 06. 2015

Obama's 'fast track' trade plan approved by lawmakers


The House of Representatives has approved a controversial trade bill backed by President Obama, just a week after Democrats voted it down.


It gives the president the right to negotiate global trade deals, with Congress only able to approve or reject a deal but not change it.

 

The 'fast-track' trade bill must now go the Senate for approval, which is by no means assured.

Democrats and unions believe it will lead to the loss of US jobs.

 

The measure, which was passed by 218 - 208, was amended to strip out a companion bill which aimed to provide support for American workers hurt by imports.

It takes President Obama a step closer to passing the Trans-Pacific Partnership (TPP) - a deal between the US and 11 other nations to remove or reduce barriers to trade and foreign investment.

 

The deal would include Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.

 

Businesses support the TPP because they argue that it would open new markets for them.

Unions, on the other hand, are concerned about the effect on jobs.

 

Source: BBC NEWS

 

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Obama's 'fast track' trade plan approved by lawmakers