Sunday, November 13, 2016

White House Is Conceding That The Trans-Pacific Partnership Trade Deal Is Dead

U.S. President Barack Obama meets with President-elect Donald Trump to discuss transition plans in the White House Oval Office in Washington, U.S., November 10, 2016. © Kevin Lamarque / Reuters

Wall Street Journal: Obama Administration Gives Up on Pacific Trade Deal

Congressional GOP leaders indicated they wouldn’t consider Trans-Pacific Partnership in lame-duck session

A sweeping Pacific trade pact meant to bind the U.S.and Asia effectively died Friday, as Republican and Democratic leaders in Congress told the White House they won’t advance it in the election’s aftermath, and Obama administration officials acknowledged it has no way forward now.

The failure to pass the 12-nation Trans-Pacific Partnership—by far the biggest trade agreement in more than a decade—is a bitter defeat for President Barack Obama, whose belated but fervent support for freer trade divided his party and complicated the campaign of Democratic nominee Hillary Clinton.

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More News On The White House Conceding That The Trans-Pacific Partnership Trade Deal Is Dead

White House gives up on passing the TPP -- The Hill
Congress will abandon Trans-Pacific Partnership deal, White House concedes -- The Guardian
Obama Isn't Expected To Push Congress On Trans-Pacific Partnership Trade Deal -- NPR
Donald Trump promised to rip up trade deals. TPP is the first casualty. -- Washington Post

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