TPP in US Congress This Week

May 11, 2015 Share Print 0

President Barack Obama’s bid for new trade agreements faces big tests in Congress this week, mostly from his fellow Democrats.

Pro-trade senators must produce 60 votes in the 100-seat chamber Tuesday to begin debate on “fast track” authority that Obama seeks. It would let him present Congress with proposed trade agreements that lawmakers can ratify or reject, but not amend.

If Obama receives fast track authority, which previous presidents have enjoyed, he’s expected to ask Congress to approve a 12-nation trade pact called the Trans-Pacific Partnership. Participants include Japan, Vietnam, Canada and Mexico. Other trade proposals could follow.

via Mainichi

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.