US House backs ‘fast-track’ trade bill
The final version of this bill does not include AIM-supported language aimed at stopping currency manipulation.
The U.S. House of Representatives on Thursday approved “fast-track” trade negotiating authority, which President Barack Obama needs to complete a 12-nation Pacific Rim trade pact, although the bill must go back to the Senate for another vote.
The 218-208 House vote to approve the measure on a second attempt in less than one week gives a boost to hopes for swift completion of the Trans-Pacific Partnership, which is central to Obama’s focus on strengthening Asian ties.
The move represents a rapid course correction by Republican leaders and Obama, who both favor the proposed Trans-Pacific Partnership (TPP) agreement, a keystone of the president’s push to strengthen American ties with Asia.