Friday, January 31, 2014

Senate balks on TPP trade talks

The Senate is balking at President Barrack Obama’s request for fast-track status for the Trans-Pacific Partnership negotiations.

"I'm against fast track," Senate Speaker Harry Reid, who controls the floor schedule in the chamber, said this week.
"Everyone knows how I feel about this... And I think everyone would be well advised just to not push this right now."

Reid and Obama are normally allies because both are Democrats.

This glitch will, no doubt, be welcomed by Canada’s quota-holding dairy and poultry farmers, but be worrisome for Canada’s grain and meat exporters.

Fast-track status means the Senate would either have to approve or defeat whatever deal is negotiated as a complete package. Without fast-track status, Senators could cherry-pick the deal to vote for or against specific details.

Most trading partners will refuse to negotiate with the U.S. if it’s not being done under fast-track status.