On June 24, a 60-35 U.S. Senate vote sent the fast-track Trade Promotion Authority (TPA) to President Barack Obama’s desk. The legislation, which already gained approval in the House of Representatives, now awaits President Obama’s signature.
TPA will allow the White House to send trade deals to Congress for up-or-down votes on finalized trade agreements.
Congress has granted TPA to every president since 1974, with the most recent law being approved in August 2002 and expiring in June 2007.
This fast-track bill brings Obama a step closer to concluding the Trans-Pacific Partnership, a 12-nation deal that will remove or reduce barriers to trade and foreign investment.