09:02 | 23/06/2015 Global Economy
US President Barack Obama has once again stressed the significance of the proposed Trans-Pacific Partnership free trade accord and urged Senate lawmakers to pass a key bill.
Obama addressed the Trade Promotion Authority bill in his weekly address on Saturday. The so-called fast-track bill is designed to give the president greater authority in negotiating trade deals such as the TPP.
Obama said rewriting the rules of global trade is necessary and that he believes it is the right thing to do for American workers and families. He said several members of Congress disagree but that he is optimistic the Senate will pass the bill.
The House of Representatives passed the bill by a majority vote on Thursday.
Senate lawmakers are scheduled to decide as early as Tuesday whether to approve a necessary motion to put the legislation to a vote.
Many Republicans support the TPP. Passing the bill requires backing from a certain number of Democrats as well. Many are cautious about it, as they fear more imports could threaten American jobs./.