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 After a six-week congressional battle including two brushes with
failure, some fancy legislative footwork and myriad backroom deals
to keep the legislation alive, the Senate voted 60 to 38 to grant
Obama "fast-track" power to negotiate trade deals and speed them
through Congress.
The bill next goes to the president for his signature.
That could propel the 12-nation Trans-Pacific Partnership (TPP), a
central element of Obama's foreign policy pivot to Asia, over the
finish line, while also boosting hopes for completing an ambitious
trade deal with the European Union.
U.S. labor groups, which fought fast-track, said they will redouble
their efforts. "We will vigorously oppose TPP if it continues on its
current course," AFL-CIO President Richard Trumka wrote in a letter
to lawmakers.
The TPP, potentially a legacy-defining achievement for Obama, would
be the biggest free trade agreement in a generation and rank with
the North American Free Trade Agreement, which liberalized trade
between the United States, Canada and Mexico, while also serving as
a counterweight to the rise of China.
To complete the TPP, ministers of the various countries involved
still have tricky issues to resolve, ranging from monopoly periods
for next-generation medicines to the treatment of state-owned
enterprises.
Some countries, including Japan and Canada, wanted fast-track to be
approved before making final offers on the trade deal, which would
cover 40 percent of the world economy and raise annual global
economic output by nearly $300 billion.
Negotiators say a deal on the TPP could be wrapped up within weeks
once countries are sure that Congress will not pick the deal apart,
which fast-track would prevent.
"We are optimistic that (fast-track) will lead the way for many new
market-opening agreements, including the Trans-Pacific Partnership,”
said Doug Oberhelman, chief executive of Caterpillar Inc <CAT.N>,
which welcomed the vote of approval, as did technology companies
Intel Corp <INTC.O> and International Business Machines Corp
<IBM.N>, and insurer Metlife Inc <MET.N>.
WORKER AID BILL
Fast-track authority, letting lawmakers set negotiating goals for
trade deals but restricting them to yes-or-no votes on final
agreements, will last for up to six years and will extend to any
trade deals negotiated by Obama's successor, who would take office
in January 2017.
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Wednesday's vote came as Congress was trying to finish up four parts
of a trade legislation package: fast-track negotiating authority,
aid for workers who lose their jobs as a result of trade, an Africa
trade preferences bill, and a customs enforcement measure.
Fast-track was forced back to the Senate floor after a revolt by
Democrats in the House of Representatives resulted in it being split
from the worker aid measure.
That bill received unanimous approval and now will return to the
House, where many Democrats who previously opposed the aid program
now plan to support it. Their initial opposition was part of a ploy
that failed to derail fast-track legislation.
Passage of worker aid in the House on Thursday would allow both
measures to go to Obama for approval this week, before lawmakers go
on a week-long break.
The bruising congressional battle pitted Obama against many in his
own party, including House Democratic leader Nancy Pelosi, and
prompted blood-letting among Republicans after party leaders lashed
out at conservatives who refused to back the trade agenda.
Opinion polls show a majority of Americans support trade in general,
but congressional approval has been a slog given pressure from
unions and activists warning of job losses and vowing to retaliate
against Democrats who support trade.
The front runner for the party's presidential nomination in 2016,
Hillary Clinton, said Democratic critics had legitimate concerns but
has so far reserved judgment on the TPP.
(Editing by Kevin Drawbaugh)
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