16:21 | 27/06/2015 Global Economy
On Wednesday, the US Senate voted to grant President Barack Obama trade promotion authority, the so-called fast track trade authority, by a vote of 60 to 38 vote, giving the Obama administration greater gratitude to strengthen economic and trade relations with Asian countries.
The Senate on Wednesday backed fast track trading authority for President Obama. (Photo: Reuters)
Republican Senators, who largely support the TPA, were joined by 15 Democratic Senators.
The same day, the Senate also approved the Trade Adjustment Assistance (TAA), a bill providing assistance and education for workers, who lose their jobs because of the Trans-Pacific Partnership Agreement. The TAA needs approval by the House of Representatives, which should not be a problem since Democratic senators who previously opposed to the TAA have now approved it.
The US House of Representatives approved the TPA on June 19. It will now be submitted for President Obama’s signature. Mr.Obama has said he would sign only if Congress passes both the TPA and the TAA./.
Source: VOV World