There aren’t many up-sides to a Trump presidency, but here’s one – McConnell dashes hopes for Pacific trade deal vote before Trump takes office
U.S. Senate Majority Leader Mitch McConnell on Wednesday dashed any remaining hopes that President Barack Obama’s signature Pacific-Rim trade deal would come up for a vote before President-elect Donald Trump takes office in January.
“It’s certainly not going to be brought up this year,” McConnell said of the 12-country Trans-Pacific Partnership (TPP) at a news briefing in Washington.
But the strong vote for Trump in industrial states made it unlikely Republicans would be willing to go against him on trade policy, analysts said.
“It’s fair to say that TPP is now in the dustbin of history,” said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics, a pro-trade think tank in Washington. “I don’t see a path forward for the United States to join.”
Key is determined to keep flogging that horse no matter how dead it is – Trade Minister ‘patron saint of lost causes’ on TPP
The government is soldiering on with its Trans Pacific Partnership (TPP) legislation, despite the strong likelihood the trade deal is already dead.
But Labour’s Megan Woods was worried about National’s state of mind.
“And it feels a bit like we’re taking part in a joint therapy session for the members opposite. Denial is the first stage of grief, I get that, but something happened yesterday … the TPP is over, it’s not going to happen.”
The third reading of the Trans Pacific Partnership legislation will continue on the next available sitting day.
What a waste of Parliament’s time.