November 13, 2015

Presidential Politics Complicate Trade Pact

In recent weeks, the Trans Pacific Partnership (TPP) has come under fire from candidates on both sides of the political spectrum, from Hillary Clinton to Mr. Trump. Democratic support was crucial for securing President Obama’s Trade Promotion Authority this summer; however, the  current toxic political climate around free trade means those Democratic votes can’t be guaranteed when TPP comes up for a final vote next year.

After notifying Congress on November 5 that he plans to sign the TPP, President Obama has to wait at least 90 days to do so. He then would have to officially submit the deal to Capitol Hill, and Congress would have 90 legislative days from then to vote on the agreement.

“When it comes to prescription drug prices, the last thing seniors need is a trade deal that keeps generics off the market and other increases,” said Richard Fiesta, Executive Director of the Alliance. “If the presidential campaign helps keep the TPP from being implemented, we welcome the fortuitous timing.”

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Topics: Fair Trade

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