Senate Passes Trade Bill that Fails to Protect American Businesses, Jobs
Legislation Does Not Hold Other Countries Responsible for Manipulating CurrencyFriday, May 22, 2015
The U.S. Senate passed trade legislation that fails to crack down on other countries that cheat on the value of their currency. It also does not include any other trade enforcement provisions to protect American jobs. Trade Promotion Authority (TPA) is the legislative vehicle that grants the President fast track authority to negotiate trade deals.
Senators Debbie Stabenow (D-MI) and Rob Portman (R-OH) offered an amendment to TPA that would have created a clear negotiating objective directing the Administration to make sure that every trade agreement includes strong, enforceable currency manipulation language.
"Tonight's vote is a massive blow to workers and businesses across the country," said Stabenow. "American workers and businesses can compete with anyone when the playing field is level. I am deeply disappointed that this fast track bill doesn't include any trade enforcement language and instead threatens jobs in Michigan."
Trade Promotion Authority legislation passed the Senate by a vote of 62-37 and will now advance to the House of Representatives for consideration.
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