Congress Stops Obamatrade

obamaThe House of Representatives voted Friday afternoon to approve fast-track authority for President Obama to negotiate far-reaching trade deals by the narrow margin of 219-to-211, but that proved to be just a symbolic vote. That’s because a key provision of the bill went down to a resounding defeat on a separate vote of of 302 to 126. And that provision was part of the Trade Promotion Authority, or TPA, bill already passed by the Senate. The vote also means the Trans-Pacific Partnership, or TPP, a monumental but controversial trade deal between the U.S. and Pacific Rim nations, is likely dead, after Obama and business interests spent months lobbying for it. Read Article